Guideline Value

Corporate

Guideline Value for Lakshmi Nagar 4th Street

₹3850/sq.ft.

The guideline value for Lakshmi Nagar 4th 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 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹221 /sq.ft.
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 4th Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Lakshmi Nagar 4th Street guideline value

The current guideline value of Lakshmi Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Lakshmi Nagar 4th Street has changed

The guideline value for Lakshmi Nagar 4th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 154 per sq.ft, which increased to Rs 221 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,500 per sq.ft in 2007. The value then saw a substantial increase to Rs 3,500 per sq.ft in 2012, but it dropped to Rs 2,345 per sq.ft in 2017. The guideline value was Rs 3,500 per sq.ft again in 2023, and it has now risen to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 2,400% from 2002 to 2024. The changes between the revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 133% increase from 2007 to 2012, a staggering 579% increase from 2003 to 2007, and a 44% increase from 2002 to 2003. The register has no figure for any other 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 in this area is Rs 4,400 per sq.ft, which means that Lakshmi Nagar 4th Street's 2024 figure is below that median.

Stamp duty and registration fee for property in Lakshmi Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be 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, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar 4th Street?

The Sub Registrar Office that covers Lakshmi Nagar 4th 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 during property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers should be aware that the guideline value may influence the final sale price of a property.

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

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 4th Street?

The current guideline value of Lakshmi Nagar 4th 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 seen significant changes, increasing from Rs 154 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 2,400%.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft, which is higher than the current guideline value of Lakshmi Nagar 4th Street.

What are the stamp duty and registration fees for properties in Lakshmi Nagar 4th Street?

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 the registration of properties in Lakshmi Nagar 4th Street?

The Velacheri Sub Registrar Office handles the registration of properties in Lakshmi Nagar 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.