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Guideline Value

Corporate

Guideline Value for LAKSHMI NAGAR 2ND STREET

₹2750/sq.ft.

The guideline value for Lakshmi Nagar 2nd Street in Jelandianpettai village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Jelandianpettai

Village

Chennai South Joint I

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /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 Street

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Lakshmi Nagar 2nd Street guideline value

The current guideline value of Lakshmi Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

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

The guideline value for Lakshmi Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. In 2023, the value increased significantly to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Lakshmi Nagar 2nd Street's 2024 figure above 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Lakshmi Nagar 2nd Street?

The Sub Registrar Office that covers Lakshmi Nagar 2nd 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Jelandianpettai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When you approach the registration office, the guideline value will be used to calculate the stamp duty and registration fees, which are essential to complete the property transaction legally. This ensures that both the buyer and seller are aware of the financial obligations involved in the sale.

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 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 in 2012 to Rs 1,675 in 2017, then back to Rs 2,500 in 2023, and finally to Rs 2,750 in 2024. This reflects a significant increase in the most recent revisions.

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

Lakshmi Nagar 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the total guideline value would be Rs 27,50,000, with stamp duty at Rs 1,92,500 and registration fee at Rs 55,000, totaling Rs 2,47,500.

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

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