Guideline Value

Corporate

Guideline Value for Lakshmi Nagar Extn

₹3630/sq.ft.

The guideline value for Lakshmi Nagar Extn in Mudichur village (Padappai SRO, Chennai zone) is Rs 3630 per sq.ft, effective 1 July 2024. It was Rs 3300 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mudichur

Village

Padappai

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3630 /sq.ft.
From 1-4-2023 ₹3300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2211 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3300 /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)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[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 Extn

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Lakshmi Nagar Extn guideline value

The current guideline value for Lakshmi Nagar Extn is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO, classified as Commercial Class I Type - I.

How the guideline value of Lakshmi Nagar Extn has changed

The guideline value for Lakshmi Nagar Extn has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,300 per sq.ft, which decreased to Rs 2,211 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,300 per sq.ft in the 2023 revision, and further rose to Rs 3,630 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value experienced a decrease of 33%, but from 2017 to 2023, it saw a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Lakshmi Nagar Extn is above this median.

Stamp duty and registration fee for property in Lakshmi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value amounts to Rs 36,30,000. The stamp duty at 7% would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total cost for these fees to Rs 3,26,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar Extn?

The Lakshmi Nagar Extn area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction reflects the official valuation of the property.

When a property is sold, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Extn?

The current guideline value of Lakshmi Nagar Extn is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What is the land classification for Lakshmi Nagar Extn?

Lakshmi Nagar Extn is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the registration office for Lakshmi Nagar Extn?

The registration office for Lakshmi Nagar Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Lakshmi Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 36,30,000, the stamp duty at 7% would be Rs 2,54,100.