Guideline Value

Corporate

Guideline Value for Lakshmi Nagar Main Road

₹3900/sq.ft.

The guideline value for Lakshmi Nagar Main Road in Adambakkam village (Alandur SRO, Chennai zone) is Rs 3900 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Adambakkam

Village

Alandur

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹3900 /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 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹650 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹372 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061
044-22240222
[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 Main Road

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Lakshmi Nagar Main Road guideline value

The current guideline value of Lakshmi Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Adambakkam village under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Lakshmi Nagar Main Road has changed

The guideline value for Lakshmi Nagar Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 372 per sq.ft, which increased to Rs 650 per sq.ft in 2003. The value saw a significant rise to Rs 900 per sq.ft in 2007, followed by a jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as per the 2024 revision.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +75%; from 2003 to 2007, it was +38%; from 2007 to 2012, it increased by +289%; then it decreased by -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and finally, there was an increase of +11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +948%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median being Rs 3,900 per sq.ft. The guideline value for Lakshmi Nagar Main Road is equal to this median.

Stamp duty and registration fee for property in Lakshmi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 Main Road?

The Sub Registrar Office that covers Lakshmi Nagar Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable taxes. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar Main Road?

The current guideline value of Lakshmi Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 372 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +948% over the years.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Lakshmi Nagar lane, Lakshmi Nagar Main Road Cross Street, Lakshmi Nagar 2nd Street, Lakshmi nagar 1st Street, Lakshmi Street, and Lakshmi Nagar 1st Lane.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.