Guideline Value

Corporate

Guideline Value for Lakshmi Nagar 7th Street

₹3850/sq.ft.

The guideline value for Lakshmi Nagar 7th 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 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 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 7th Street guideline value

The current guideline value of Lakshmi Nagar 7th 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 falls under the Residential Class II Type - III land classification.

How the guideline value of Lakshmi Nagar 7th Street has changed

In the 2012 revision, the guideline value for Lakshmi Nagar 7th Street was Rs 3,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. For the years 2002, 2003, 2007, and 2017, the register has no figure for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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 of Lakshmi Nagar 7th Street is below this median.

Stamp duty and registration fee for property in Lakshmi Nagar 7th 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 amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It's important to 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 further assistance.

Which Sub Registrar Office covers Lakshmi Nagar 7th Street?

The Sub Registrar Office that covers Lakshmi Nagar 7th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can also 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 property transactions in Velachery. It serves as the minimum value for which properties can be registered, ensuring that the state collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps determine the financial obligations involved in the transaction. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Lakshmi Nagar 7th 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 for Lakshmi Nagar 7th Street has changed from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase overall. There were no figures recorded for the years 2002, 2003, 2007, and 2017.

What is the median guideline value in Velachery?

The median guideline value in Velachery is Rs 4,400 per sq.ft for the year 2024. The guideline value of Lakshmi Nagar 7th Street is below this median.

What are the stamp duty and registration fees for property in Lakshmi Nagar 7th 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. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Lakshmi Nagar 7th Street located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.