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Guideline Value

Corporate

Guideline Value for Lakshmi nagar cross street

₹4400/sq.ft.

The guideline value for Lakshmi Nagar Cross Street in Chitlapakkam village (Tambaram Joint 1 SRO, Chengalpattu zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Chitlapakkam

Village

Tambaram Joint 1

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /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.26,mes Road, East Tambaram, Chennai-600059.
044-22397171
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Lakshmi Nagar Cross Street

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Lakshmi nagar cross street guideline value

The current guideline value of Lakshmi Nagar Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Lakshmi nagar cross street has changed

The guideline value for Lakshmi Nagar Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then dropped to Rs 2,680 per sq.ft in the 2017 revision. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Lakshmi Nagar Cross Street's 2024 figure above this median.

Stamp duty and registration fee for property in Lakshmi nagar cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 detailed calculations.

Which Sub Registrar Office covers Lakshmi nagar cross street?

The Lakshmi Nagar Cross Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market conditions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that all transactions are transparent and adhere to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Lakshmi nagar cross street?

The current guideline value of Lakshmi Nagar Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a total fee of Rs 3,96,000.

Which office handles registrations for Lakshmi nagar cross street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Lakshmi Nagar Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Lakshmi nagar cross street?

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