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Guideline Value

Corporate

Guideline Value for LAKSHMI NAGAR 2ND CROSS STREET

₹1980/sq.ft.

The guideline value for Lakshmi Nagar 2nd Cross Street in Manapakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 1980 per sq.ft, effective 1 July 2024. It was Rs 1800 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Manapakkam

Village

Chennai South Joint I

SRO

Residential Class IV Type - II
History
Period Guideline Value
From 1-7-2024 ₹1980 /sq.ft.
From 1-4-2023 ₹1800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1206 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1800 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[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 Cross Street

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Lakshmi Nagar 2nd Cross Street guideline value

The current guideline value of Lakshmi Nagar 2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Lakshmi Nagar 2nd Cross Street has changed

Over the years, the guideline value for Lakshmi Nagar 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing the 2024 guideline value of Lakshmi Nagar 2nd Cross Street below this median.

Stamp duty and registration fee for property in Lakshmi Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Lakshmi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Lakshmi Nagar 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value when negotiating sale prices, as the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 2nd Cross Street?

The current guideline value of Lakshmi Nagar 2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is currently Rs 1,980 per sq.ft as of 2024.

What is the land classification for Lakshmi Nagar 2nd Cross Street?

The land classification for Lakshmi Nagar 2nd Cross Street is Residential Class IV Type - II.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Lakshmi Nagar 2nd Cross Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Lakshmi Nagar 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.