Guideline Value

Corporate

Guideline Value for Lakshmi Hygrieva Nagar

₹3850/sq.ft.

The guideline value for Lakshmi Hygrieva Nagar 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

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Lakshmi Hygrieva Nagar guideline value

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

How the guideline value of Lakshmi Hygrieva Nagar has changed

The guideline value of Lakshmi Hygrieva Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft. It then increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, the value decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The subsequent revisions saw an increase to Rs 3,500 per sq.ft in 2023, followed by a further rise to Rs 3,850 per sq.ft in 2024, representing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 157%. 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 is below this median.

Stamp duty and registration fee for property in Lakshmi Hygrieva Nagar

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 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 accurate calculations.

Which Sub Registrar Office covers Lakshmi Hygrieva Nagar?

The Sub Registrar Office that covers Lakshmi Hygrieva Nagar 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 crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Lakshmi Hygrieva Nagar?

The current guideline value of Lakshmi Hygrieva Nagar 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 is the land classification of Lakshmi Hygrieva Nagar?

Lakshmi Hygrieva Nagar is classified as Residential Class II Type - III, indicating its designation for residential use.

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 properties in Lakshmi Hygrieva Nagar?

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