Guideline Value

Corporate

Guideline Value for Lakshmi Nagar 7th Extn

₹3850/sq.ft.

The guideline value for Lakshmi Nagar 7th 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 N/A
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 7th Extn

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Lakshmi Nagar 7th Extn guideline value

The current guideline value of Lakshmi Nagar 7th Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This area 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 7th Extn has changed

Since the 2012 revision, the guideline value for Lakshmi Nagar 7th Extn has seen a change from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft in the 2024 revision, marking an overall increase of 10%. The 2023 revision maintained the value at Rs 3,500 per sq.ft, showing no change from the 2012 revision.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions available are from 2012, 2023, and the current 2024 revision.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Lakshmi Nagar 7th Extn is below this median.

Stamp duty and registration fee for property in Lakshmi Nagar 7th Extn

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, bringing the total to Rs 3,46,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Lakshmi Nagar 7th Extn?

The Sub Registrar Office that covers Lakshmi Nagar 7th 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 for more information.

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

The guideline value is a critical factor during property registration in Velachery. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable fees. This value serves as a benchmark for the transaction, helping to standardize property transactions across the region.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 7th Extn?

The current guideline value of Lakshmi Nagar 7th Extn is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 3,500 per sq.ft to Rs 3,850 per sq.ft in 2024, with no change recorded in 2023.

What is the stamp duty rate for properties in Lakshmi Nagar 7th Extn?

The stamp duty rate for properties in Lakshmi Nagar 7th Extn is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Lakshmi Nagar 7th Extn?

The Sub Registrar Office for Lakshmi Nagar 7th Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What other streets have guideline values in Velachery?

Other streets in Velachery include Lakshmi Nagar 7th Cross Street at Rs 4,400 per sq.ft, Lakshmi Nagar 7th Main Road, Lakshmi Nagar 6th Street, Lakshmi Nagar 7th Street, Lakshmi Nagar 6th Main Road, and Lakshmi Nagar 6th Extn, all at Rs 3,850 per sq.ft in 2024.