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Guideline Value

Corporate

Guideline Value for Lakshmi Nagar 3rd Cross Street

₹4400/sq.ft.

The guideline value for Lakshmi Nagar 3rd Cross Street in Chitlapakkam village (Tambaram Joint 1 SRO, Chengalpattu 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 Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Chitlapakkam

Village

Tambaram Joint 1

SRO

Residential Special 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 N/A
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.26,mes Road, East Tambaram, Chennai-600059.
044-22397171
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Lakshmi Nagar 3rd Cross Street

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Lakshmi Nagar 3rd Cross Street guideline value

The current guideline value of Lakshmi Nagar 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

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

Over the years, the guideline value of Lakshmi Nagar 3rd Cross Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the current 2024 revision has further raised it to Rs 4,400 per sq.ft. There are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Lakshmi Nagar 3rd Cross Street above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Lakshmi Nagar 3rd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is considered as a baseline for taxation purposes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value for Lakshmi Nagar 3rd Cross Street 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 changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

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

The land classification for Lakshmi Nagar 3rd Cross Street is Residential Special Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

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

The Tambaram Joint 1 Sub Registrar Office handles registrations for Lakshmi Nagar 3rd Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.