Guideline Value

Corporate

Guideline Value for Lakshmi Nagar 3rd Street

₹3850/sq.ft.

The guideline value for Lakshmi 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 ₹2167 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 ₹154 /sq.ft.
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 Nagar 3rd Street

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Lakshmi Nagar 3rd Street guideline value

The current guideline value of Lakshmi Nagar 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

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

The guideline value for Lakshmi Nagar 3rd Street has seen several revisions over the years. Starting from Rs 154 per sq.ft in 2002, it increased significantly to Rs 2,167 per sq.ft in 2007, marking a rise of 1307%. The value then fluctuated to Rs 3,500 per sq.ft in 2012, a decrease of 33%. By 2017, the guideline value rose to Rs 2,345 per sq.ft, and then surged to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in 2024, reflecting a 10% increase from the previous year.

The register has no figure for Lakshmi Nagar 3rd Street in 2003. Overall, from 2002 to 2024, the guideline value has increased by 2400%, highlighting the significant changes in property valuation over the years.

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. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Lakshmi Nagar 3rd Street's current value below that median.

Stamp duty and registration fee for property in Lakshmi 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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. Please 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 details.

Which Sub Registrar Office covers Lakshmi Nagar 3rd Street?

The Sub Registrar Office that covers Lakshmi 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 more information.

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

The guideline value is a crucial factor in the property registration process in Velachery. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring transparency in transactions.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Lakshmi 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 154 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, showing a significant increase of 2400% 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 registrations in Lakshmi Nagar 3rd Street?

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

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

The land classification for Lakshmi Nagar 3rd Street is Residential Class II Type - III, indicating its suitability for residential purposes.