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Guideline Value

Corporate

Guideline Value for Lakshmi Hygrieva Nagar 3rd Street

₹3850/sq.ft.

The guideline value for Lakshmi Hygrieva Nagar 3rd 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 Street

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Lakshmi Hygrieva Nagar 3rd Street guideline value

The current guideline value of Lakshmi Hygrieva Nagar 3rd 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 falls under Residential Class II Type - III land classification.

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

The guideline value for Lakshmi Hygrieva Nagar 3rd Street has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. Following that, the value rose sharply to Rs 3,500 per sq.ft in 2023, and then to the current Rs 3,850 per sq.ft in 2024. The changes between these revisions include a 133% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register has no 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 that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Lakshmi Hygrieva Nagar 3rd Street is below this median.

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

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, charged at 7%, would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, these fees total Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers Lakshmi Hygrieva Nagar 3rd 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies during registration.

When registering a property, the guideline value is assessed to calculate the applicable fees. This ensures that the government receives the correct amount in taxes based on the property's valuation, thus maintaining transparency in property transactions.

Frequently asked questions

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

The current guideline value of Lakshmi Hygrieva Nagar 3rd 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 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 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.

Which office handles property registration for Lakshmi Hygrieva Nagar 3rd Street?

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

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

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