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Guideline Value

Corporate

Guideline Value for LakshmiNarayana Avenue

₹990/sq.ft.

The guideline value for Lakshminarayana Avenue in Varadarajapuram village (Padappai SRO, Chennai zone) is Rs 990 per sq.ft, effective 1 July 2024. It was Rs 900 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Varadarajapuram

Village

Padappai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹990 /sq.ft.
From 1-4-2023 ₹900 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹603 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹900 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹120 /sq.ft.
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 Lakshminarayana Avenue

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LakshmiNarayana Avenue guideline value

The current guideline value of LakshmiNarayana Avenue is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of LakshmiNarayana Avenue has changed

Over the years, the guideline value of LakshmiNarayana Avenue has seen several revisions. The earliest recorded figure is from 2007, which was Rs 120 per sq.ft. This value increased significantly to Rs 900 per sq.ft in 2012, marking a 650% rise. However, it then decreased to Rs 603 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 900 per sq.ft in 2023, and then it rose again to Rs 990 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. From 2017 to 2023, the increase was 49%, and overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median of Rs 1,650 per sq.ft. The guideline value of LakshmiNarayana Avenue is below this median.

Stamp duty and registration fee for property in LakshmiNarayana Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total charges Rs 89,100. 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 LakshmiNarayana Avenue?

The Sub Registrar Office that covers LakshmiNarayana Avenue is 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 details.

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

The guideline value is a critical factor in property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of LakshmiNarayana Avenue?

The current guideline value of LakshmiNarayana Avenue is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What are the stamp duty and registration fees for properties in LakshmiNarayana Avenue?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles registrations for LakshmiNarayana Avenue?

The Padappai Sub Registrar Office handles registrations for LakshmiNarayana Avenue, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of LakshmiNarayana Avenue?

LakshmiNarayana Avenue is classified as Residential Class III Type - I, indicating its suitability for residential development.