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Guideline Value

Corporate

Guideline Value for Lakshmi Hygrieva Nagar 2nd Cross Street

₹3850/sq.ft.

The guideline value for Lakshmi Hygrieva Nagar 2nd Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /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 ₹1500 /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)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 Hygrieva Nagar 2nd Cross Street

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Lakshmi Hygrieva Nagar 2nd Cross Street guideline value

The current guideline value of Lakshmi Hygrieva Nagar 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO and is classified as Residential Class II Type - III.

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

The guideline value for Lakshmi Hygrieva Nagar 2nd Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value dropped to Rs 2,345 per sq.ft in 2017, marking a decrease of 33%. The following revisions saw a substantial increase, with the 2023 revision at Rs 3,500 per sq.ft and the latest 2024 revision at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with the median value being Rs 4,400 per sq.ft. The guideline value of Lakshmi Hygrieva Nagar 2nd Cross Street is below this median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 precise calculations.

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

The Sub Registrar Office that covers Lakshmi Hygrieva Nagar 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that buyers must pay.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Lakshmi Hygrieva Nagar 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting a total increase of 157% over the years.

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

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

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office located for this street?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it covers Lakshmi Hygrieva Nagar 2nd Cross Street.