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Guideline Value

Corporate

Guideline Value for Lakshmi Nagar (George Colony)

₹2700/sq.ft.

The guideline value for Lakshmi Nagar (george Colony) in Peravallur village (Sembiam SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Peravallur

Village

Sembiam

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹700 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹354 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹325 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

5, Papermills Road, Sembiam, Chennai - 600011.
044-26702002
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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 (george Colony)

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Lakshmi Nagar (George Colony) guideline value

The current guideline value of Lakshmi Nagar (George Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Peravallur village, under the jurisdiction of the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Lakshmi Nagar (George Colony) has changed

The guideline value of Lakshmi Nagar (George Colony) has seen several revisions over the years. In 2002, the value was Rs 325 per sq.ft, which increased to Rs 354 per sq.ft in 2003. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it saw a significant rise of 257% from 2007 to 2012. The increase from 2002 to 2024 overall is 731%. Notably, there are no figures available for the years not listed for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Lakshmi Nagar (George Colony) is below this median.

Stamp duty and registration fee for property in Lakshmi Nagar (George Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar (George Colony)?

The Sub Registrar Office that covers Lakshmi Nagar (George Colony) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. This value is essential for calculating the stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value for Lakshmi Nagar (George Colony)?

The current guideline value for Lakshmi Nagar (George Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 325 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 731% over this period.

What is the land classification for Lakshmi Nagar (George Colony)?

The land classification for Lakshmi Nagar (George Colony) is Residential Class I Type - I.

What is the stamp duty rate for property in Lakshmi Nagar (George Colony)?

The stamp duty rate for property transactions in Lakshmi Nagar (George Colony) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Nagar (George Colony)?

The Sub Registrar Office for Lakshmi Nagar (George Colony) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.