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Guideline Value

Corporate

Guideline Value for LAKSHMI NAGAR MAIN ROAD

₹2800/sq.ft.

The guideline value for Lakshmi Nagar Main Road in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 2800 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 12% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹2800 /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 N/A
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)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[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 Main Road

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Lakshmi Nagar Main Road guideline value

The current guideline value of Lakshmi Nagar Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Lakshmi Nagar Main Road has changed

The guideline value for Lakshmi Nagar Main Road has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. In 2023, this increased to Rs 2,500 per sq.ft, marking a significant rise of 49% from the previous revision. The most recent revision in 2024 has further increased the guideline value to Rs 2,800 per sq.ft, reflecting a 12% increase from 2023. Overall, from 2017 to 2024, the guideline value has risen by 67%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, indicating that the guideline value for Lakshmi Nagar Main Road is above this median.

Stamp duty and registration fee for property in Lakshmi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty, calculated at 7%, would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total fees would amount to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar Main Road?

The Sub Registrar Office that covers Lakshmi Nagar Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that the transaction is recorded accurately in the register. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Main Road?

The current guideline value of Lakshmi Nagar Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2024, reflecting a total increase of 67% over this period.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, with Lakshmi Nagar Main Road's value being above this median.

What are the stamp duty and registration fees for buying property in Lakshmi Nagar Main Road?

The total stamp duty and registration fees for a 1,000 sq.ft plot at the current guideline value would amount to Rs 2,52,000, based on the rates provided.

Which office handles the registration for Lakshmi Nagar Main Road?

The Neelankarai Sub Registrar Office is responsible for handling registrations for Lakshmi Nagar Main Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.