Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for LAKSHMI NAGAR 1st Street

₹2200/sq.ft.

The guideline value for Lakshmi Nagar 1st Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹106 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹96 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Lakshmi Nagar 1st Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

LAKSHMI NAGAR 1st Street guideline value

The current guideline value of LAKSHMI NAGAR 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of LAKSHMI NAGAR 1st Street has changed

The guideline value for LAKSHMI NAGAR 1st Street has seen several revisions over the years. In 2002, the value was Rs 96 per sq.ft, which increased to Rs 106 per sq.ft in 2003. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017 before increasing to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 was a substantial increase of 567%, and from 2003 to 2007, the value rose by 183%. Overall, from 2002 to 2024, the guideline value has increased by 2,192%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing LAKSHMI NAGAR 1st Street's current value below this median.

Stamp duty and registration fee for property in LAKSHMI NAGAR 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers LAKSHMI NAGAR 1st Street?

The Sub Registrar Office that covers LAKSHMI NAGAR 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Maduravoyal

The guideline value plays a crucial role in the registration process of property transactions in Maduravoyal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that the correct amounts are calculated based on the established rates.

Frequently asked questions

What is the current guideline value of LAKSHMI NAGAR 1st Street?

The current guideline value of LAKSHMI NAGAR 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 96 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2,192% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for LAKSHMI NAGAR 1st Street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including location and land classification. It is revised periodically to reflect changes in the real estate market.