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Guideline Value

Corporate

Guideline Value for L & T. Colony 1st Street

₹4400/sq.ft.

The guideline value for L & T. Colony 1st Street in Virugambakkam village (Virugambakkam 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 Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class III 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 ₹2000 /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)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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 L & T. Colony 1st Street

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L & T. Colony 1st Street guideline value

The current guideline value of L & T. Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of L & T. Colony 1st Street has changed

Over the years, the guideline value of L & T. Colony 1st Street has seen several revisions. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a 100% rise. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the most recent 2024 revision further increased it to Rs 4,400 per sq.ft, reflecting a 10% change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of L & T. Colony 1st Street.

Stamp duty and registration fee for property in L & T. Colony 1st 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 cost for these fees to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers L & T. Colony 1st Street?

The Sub Registrar Office that covers L & T. Colony 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Virugambakkam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Understanding the guideline value helps both buyers and sellers to be aware of the financial implications of property transactions. It is essential for ensuring compliance with local regulations and for accurately assessing the costs associated with property transfers.

Frequently asked questions

What is the current guideline value of L & T. Colony 1st Street?

The current guideline value of L & T. Colony 1st 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 2,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty and registration fees for property in L & T. Colony 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with stamp duty at 7% amounting to Rs 3,08,000 and a registration fee at 2% of Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for L & T. Colony 1st Street?

The Virugambakkam Sub Registrar Office handles registrations for L & T. Colony 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for L & T. Colony 1st Street?

L & T. Colony 1st Street is classified as Residential Class III Type - I.