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Guideline Value

Corporate

Guideline Value for LAKSHMI NAGAR 2nd Street

₹2200/sq.ft.

The guideline value for Lakshmi Nagar 2nd 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 2nd Street

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LAKSHMI NAGAR 2nd Street guideline value

The current guideline value of LAKSHMI NAGAR 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of LAKSHMI NAGAR 2nd Street has changed

Over the years, the guideline value of LAKSHMI NAGAR 2nd Street has undergone several revisions. The earliest recorded value was Rs 96 per sq.ft in 2002, which increased to Rs 106 per sq.ft in 2003, marking a change of +10%. The value then saw a significant rise to Rs 300 per sq.ft in 2007, reflecting an increase of +183%. Following this, the value surged to Rs 2,000 per sq.ft in 2012, a remarkable increase of +567%. However, from 2012 to 2017, the guideline value decreased to Rs 1,340 per sq.ft, which is a decline of -33%. The value then rose to Rs 2,000 per sq.ft in 2023, marking an increase of +49%, and most recently, it has been set at Rs 2,200 per sq.ft from 2024.

There are no figures available for the revisions in years not mentioned in the provided data. The current guideline value reflects an overall increase of +2192% from the 2002 figure to the 2024 figure.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of LAKSHMI NAGAR 2nd Street is below this median.

Stamp duty and registration fee for property in LAKSHMI NAGAR 2nd Street

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

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers LAKSHMI NAGAR 2nd Street?

The Sub Registrar Office that covers LAKSHMI NAGAR 2nd 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 details.

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

The guideline value is a critical factor in the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price reflects a fair valuation in accordance with government standards.

When buying or selling property, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of LAKSHMI NAGAR 2nd Street?

The current guideline value of LAKSHMI NAGAR 2nd 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 changed significantly, increasing from Rs 96 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of +2192%.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal that share the same guideline value of Rs 2,200 per sq.ft include LAKSHMI NAGAR 1st Street, LAKSHMI NAGAR 3rd Street, LAKSHMI NAGAR 1st Main Road, LAKSHMI NAGAR 4th Street, LAKSHMI NAGAR 5th Street, and LAKSHMI NAGAR 6th Street.

Where can I find the Sub Registrar Office for LAKSHMI NAGAR 2nd Street?

The Sub Registrar Office for LAKSHMI NAGAR 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in LAKSHMI NAGAR 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.