Guideline Value

Corporate

Guideline Value for Lakshmi Nagar

₹1000/sq.ft.

The guideline value for Lakshmi Nagar in Chettimedu village (Redhills SRO, Chennai zone) is Rs 1000 per sq.ft, effective 1 July 2024. It was Rs 500 per sq.ft from 1 April 2023, a 100% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chettimedu

Village

Redhills

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹1000 /sq.ft.
From 1-4-2023 ₹500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹335 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹32 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[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

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Lakshmi Nagar guideline value

The current guideline value of Lakshmi Nagar, located in Chettimedu village under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmi Nagar has changed

The guideline value for Lakshmi Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 32 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a rise of 1150%. The value then changed to Rs 500 per sq.ft in 2012, which was a decrease of 33%. In 2017, the guideline value was revised to Rs 335 per sq.ft, followed by an increase to Rs 500 per sq.ft in 2023, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,000 per sq.ft, reflecting a substantial increase of 100% from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 3025%.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft, with a median of Rs 1,002 per sq.ft. The guideline value for Lakshmi Nagar is below this median.

Stamp duty and registration fee for property in Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Lakshmi Nagar?

The Sub Registrar Office that covers Lakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Chettimedu. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar?

The current guideline value of Lakshmi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 32 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, marking an overall increase of 3025% over the years.

What is the land classification for Lakshmi Nagar?

The land classification for Lakshmi Nagar is Residential Special Type - I.

Where is the Sub Registrar Office for Lakshmi Nagar located?

The Sub Registrar Office for Lakshmi Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,000 per sq.ft results in a total guideline value of Rs 10,00,000, leading to a stamp duty of Rs 70,000.