Guideline Value

Corporate

Guideline Value for Lakshmipuram Main Road

₹4400/sq.ft.

The guideline value for Lakshmipuram Main Road in Velachery village (Velacheri SRO, Chennai 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 Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
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 ₹402 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹358 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 Lakshmipuram Main Road

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Lakshmipuram Main Road guideline value

The current guideline value of Lakshmipuram Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lakshmipuram Main Road has changed

The guideline value of Lakshmipuram Main Road has seen significant changes over the years. In 2002, the value was Rs 358 per sq.ft, which increased to Rs 402 per sq.ft in 2003, marking a 12% rise. The value then experienced a substantial increase of 895%, reaching Rs 4,000 per sq.ft in 2012. However, it dropped by 33% to Rs 2,680 per sq.ft in 2017. The value further increased by 49% to Rs 4,000 per sq.ft in 2023, and then rose by 10% to the current value of Rs 4,400 per sq.ft in 2024.

It is important to note that there is no figure available for the year 2007 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Lakshmipuram Main Road.

Stamp duty and registration fee for property in Lakshmipuram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmipuram Main Road?

The Sub Registrar Office that covers Lakshmipuram Main Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is used as a benchmark for determining the minimum value of a property during registration. When a property is bought or sold, the registration office uses the guideline value to calculate stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. This value is updated periodically, reflecting changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Lakshmipuram Main Road?

The current guideline value of Lakshmipuram Main Road 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 significantly, from Rs 358 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,129% over this period.

What are the stamp duty and registration fees for properties on Lakshmipuram Main Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Lakshmipuram Main Road?

The Velacheri Sub Registrar Office handles property registrations for Lakshmipuram Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for property transactions, determining the minimum value for calculating stamp duty and registration fees. It is crucial for buyers and sellers to understand this value as it impacts the overall cost of property transactions.