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Guideline Value

Corporate

Guideline Value for Lakshmi Hygrieva Nagar 2nd Main Road

₹3850/sq.ft.

The guideline value for Lakshmi Hygrieva Nagar 2nd Main Road 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 Main Road

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Lakshmi Hygrieva Nagar 2nd Main Road guideline value

The current guideline value of Lakshmi Hygrieva Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Lakshmi Hygrieva Nagar 2nd Main Road has changed

Over the years, the guideline value of Lakshmi Hygrieva Nagar 2nd Main Road has experienced several revisions. The 2007 revision set the guideline value at Rs 1,500 per sq.ft, which then increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 133%. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The 2023 revision saw a substantial increase to Rs 3,500 per sq.ft, followed by a further rise to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a significant increase of 157%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Lakshmi Hygrieva Nagar 2nd Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in Lakshmi Hygrieva Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lakshmi Hygrieva Nagar 2nd Main Road?

The Sub Registrar Office that covers Lakshmi Hygrieva Nagar 2nd Main Road 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 details.

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

When buying or selling property in Velachery, the guideline value plays a crucial role during the registration process. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost involved in transferring property ownership. Ensuring compliance with the guideline value helps in avoiding any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Lakshmi Hygrieva Nagar 2nd Main Road?

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

How 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 an overall increase of 157% over the years.

What is the land classification for Lakshmi Hygrieva Nagar 2nd Main Road?

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

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property transactions in Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.