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Guideline Value

Corporate

Guideline Value for Lakshmi Nagar Main Road

₹4400/sq.ft.

The guideline value for Lakshmi Nagar Main Road in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹362 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹327 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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 Nagar Main Road

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Lakshmi Nagar Main Road guideline value

The current guideline value of Lakshmi Nagar Main Road in Virugambakkam village, under the Virugambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of Lakshmi Nagar Main Road has changed

The guideline value for Lakshmi Nagar Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 327 per sq.ft. This increased to Rs 362 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 750 per sq.ft in 2007, which was a +107% increase. Following this, the value surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable +433% change. However, it decreased to Rs 2,680 per sq.ft in 2017, showing a decline of -33%. The value then increased to Rs 4,000 per sq.ft in 2023, which was a +49% rise. Finally, the current revision in 2024 set the guideline value at Rs 4,400 per sq.ft, a +10% increase from the previous year.

There are no figures available for any other revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by +1246%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Lakshmi Nagar Main Road.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total charges Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Lakshmi Nagar Main Road?

The Sub Registrar Office that covers Lakshmi Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Virugambakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. Ensuring that the sale price is aligned with the guideline value can help in avoiding discrepancies during registration.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 327 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is an overall increase of +1246%.

What are the stamp duty and registration fees for property in Lakshmi Nagar Main Road?

For a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations in Virugambakkam?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, handles property registrations in Virugambakkam.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It is based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are applied during registration.