Guideline Value

Corporate

Guideline Value for Lakshmi Nagar 5th Extn

₹3850/sq.ft.

The guideline value for Lakshmi Nagar 5th Extn 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 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.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 5th Extn

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Lakshmi Nagar 5th Extn guideline value

The current guideline value of Lakshmi Nagar 5th Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under Velachery village and the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Lakshmi Nagar 5th Extn has changed

The guideline value for Lakshmi Nagar 5th Extn has seen several revisions over the years. The earliest recorded revision was in 2012, setting the guideline value at Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023 before reaching the current value of Rs 3,850 per sq.ft in 2024.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The change from 2023 to 2024 represents a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Lakshmi Nagar 5th Extn's 2024 figure below this median.

Stamp duty and registration fee for property in Lakshmi Nagar 5th Extn

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, while the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar 5th Extn?

The Sub Registrar Office that covers Lakshmi Nagar 5th Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO online for more information.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value at the time of the transaction.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 5th Extn?

The current guideline value of Lakshmi Nagar 5th Extn 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 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Lakshmi Nagar 5th Extn?

Lakshmi Nagar 5th Extn is classified as Residential Class II Type - III under the Velacheri SRO.

What are the stamp duty and registration fees for a property here?

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. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Lakshmi Nagar 5th Extn located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, covering the Lakshmi Nagar 5th Extn area.