Guideline Value

Corporate

Guideline Value for LOCKMA NAGAR 2ND STREET

₹3800/sq.ft.

The guideline value for Lockma Nagar 2nd Street in Purasaivakkam village (Purasaivakkam SRO, Chennai zone) is Rs 3800 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Purasaivakkam

Village

Purasaivakkam

SRO

Residential Class IV Type - II
History
Period Guideline Value
From 1-7-2024 ₹3800 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
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)

93/1, Bricklin Road, Otteri, Chennai- 600 012.
044-26623514
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[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 Lockma Nagar 2nd Street

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Lockma Nagar 2nd Street guideline value

The current guideline value of Lockma Nagar 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - II.

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

Over the years, the guideline value of Lockma Nagar 2nd Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,100 per sq.ft, which rose to Rs 3,500 per sq.ft in 2012, marking an increase of 218%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,345 per sq.ft. The 2023 revision saw a substantial increase to Rs 3,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 3,800 per sq.ft, reflecting a 9% rise.

Overall, from 2007 to 2024, the guideline value has increased by 245%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median of Rs 5,500 per sq.ft. Lockma Nagar 2nd Street's 2024 guideline value is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lockma Nagar 2nd Street?

The Sub Registrar Office that covers Lockma Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value is set by the registration department and reflects the minimum value at which properties can be registered.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are compliant with local regulations. This helps maintain transparency in property transactions within the region.

Frequently asked questions

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

The current guideline value of Lockma Nagar 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,100 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, representing an overall increase of 245% over the years.

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

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

Where can I find the Sub Registrar Office for Lockma Nagar 2nd Street?

The Sub Registrar Office for Lockma Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Lockma Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.