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Guideline Value

Corporate

Guideline Value for LAKSHMI NAGAR 5th Street

₹2200/sq.ft.

The guideline value for Lakshmi Nagar 5th 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 5th Street

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LAKSHMI NAGAR 5th Street guideline value

The current guideline value of LAKSHMI NAGAR 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of LAKSHMI NAGAR 5th Street has changed

The guideline value for LAKSHMI NAGAR 5th Street has seen several revisions over the years. Starting from Rs 96 per sq.ft in 2002, it increased to Rs 106 per sq.ft in 2003. Following this, the value rose significantly to Rs 300 per sq.ft in 2007. The next revision in 2012 saw a drop to Rs 2,000 per sq.ft, but it rebounded to Rs 1,340 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,192%. The register has no figure for LAKSHMI NAGAR 5th Street for the years not listed in the revisions.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft as of 2024. The median guideline value in this area is Rs 3,050 per sq.ft, placing LAKSHMI NAGAR 5th Street below that median.

Stamp duty and registration fee for property in LAKSHMI NAGAR 5th 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers LAKSHMI NAGAR 5th Street?

The Sub Registrar Office that covers LAKSHMI NAGAR 5th 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 additional information.

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

The guideline value is a crucial factor during property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered and helps in calculating the stamp duty and registration fees applicable during the sale.

When buying or selling property, the guideline value ensures transparency and standardization in property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of LAKSHMI NAGAR 5th Street?

The current guideline value of LAKSHMI NAGAR 5th 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 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 the years.

What is the registration office for LAKSHMI NAGAR 5th Street?

The registration office for LAKSHMI NAGAR 5th 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 5th Street?

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

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

Other streets in Maduravoyal with the same guideline value of Rs 2,200 per sq.ft include LAKSHMI NAGAR 6th Street, LAKSHMI NAGAR 4th Street, LAKSHMI NAGAR 7th Street, LAKSHMI NAGAR 3rd Street, LAKSHMI NAGAR - Anna Street, and LAKSHMI NAGAR - Chithi Vinayagar Koil Street.