Towards the intelligent transportation systems, Location Based Service (LBS) are widely engaged in Vehicular Ad Hoc Networks (VANETs) that are becoming as significant application that change the human driving experience in today's world. LBS systems facilitate the users with intelligent services by collecting an accurate location information. Due to the frequent exchange rate of the location information in an open environment, VANETs are inherently susceptible to privacy and security attacks. In past, many schemes have been proposed to ensure the privacy and security of exchanged location information; but fail to deploy in practical VANETs. At the same time, system efficiency is compromised which is another primary requirement of VANETs. Leveraging the semi-decentralized and lightweight nature of consortium blockchain technology, and Certificateless conditional privacy protection scheme to reduce the node authentication overhead, this paper introduces Consortium Blockchain assisted Certificateless Conditional Privacy Protection scheme to address the aforementioned challenges. Additionally, the proposed scheme has ability to develop anonymous regions for a particular time stamp ensuring the location privacy of vehicles. Rigorous security analysis and experiments show the practicality and resilience to various attack models, and achieve ADP 83% with maximum malicious attacks. Comparing with existing state of the art methods, the proposed scheme exhibits the privacy improvement and low computational complexity.