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Guideline Value

Corporate

Guideline Value for Lakshmi Hygrieva Nagar 3rd Cross Street

₹3850/sq.ft.

The guideline value for Lakshmi Hygrieva Nagar 3rd 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 3rd Cross Street

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Lakshmi Hygrieva Nagar 3rd Cross Street guideline value

The current guideline value of Lakshmi Hygrieva Nagar 3rd 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. The land classification for this area is Residential Class II Type - III.

How the guideline value of Lakshmi Hygrieva Nagar 3rd Cross Street has changed

The guideline value for Lakshmi Hygrieva Nagar 3rd Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a significant increase of 133%. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in 2024, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 157%. 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 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which places the 2024 figure for Lakshmi Hygrieva Nagar 3rd Cross Street below that median.

Stamp duty and registration fee for property in Lakshmi Hygrieva Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total 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.

You can use our stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Lakshmi Hygrieva Nagar 3rd Cross Street?

The Sub Registrar Office that covers Lakshmi Hygrieva Nagar 3rd 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 is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government standards.

When a property is sold, the buyer and seller must consider the guideline value to calculate applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during the property transfer process.

Frequently asked questions

What is the current guideline value of Lakshmi Hygrieva Nagar 3rd Cross Street?

The current guideline value of Lakshmi Hygrieva Nagar 3rd Cross Street 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, marking an overall increase of 157% over the years.

What is the land classification for Lakshmi Hygrieva Nagar 3rd Cross Street?

The land classification for Lakshmi Hygrieva Nagar 3rd Cross Street is Residential Class II Type - III.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 38,50,000, the total fees would be Rs 3,46,500.

Which office handles registrations for Lakshmi Hygrieva Nagar 3rd Cross Street?

The Velacheri Sub Registrar Office handles registrations for Lakshmi Hygrieva Nagar 3rd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.