Guideline Value for S.R.B.NAGAR 11th STREET

S.R.B.NAGAR 11th STREET guideline value

The current guideline value of S.R.B.NAGAR 11th STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO, classified as Residential Special Type - III.

How the guideline value of S.R.B.NAGAR 11th STREET has changed

Over the years, the guideline value of S.R.B.NAGAR 11th STREET has seen significant changes. The 2007 revision recorded a guideline value of Rs 600 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a 400% increase. The 2023 revision maintained the Rs 3,000 per sq.ft figure, but the 2024 revision saw an increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

There are no recorded figures for the revisions in 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 450%.

Guideline values in Korattur

In Korattur, the guideline values vary widely, with 617 streets under the Villivakkam SRO carrying 2024 figures ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing S.R.B.NAGAR 11th STREET above this median.

• S.R.B.NAGAR 10th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 12th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 2nd STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 4th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.B.NAGAR 11th STREET

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 details.

Which Sub Registrar Office covers S.R.B.NAGAR 11th STREET?

The Sub Registrar Office that covers S.R.B.NAGAR 11th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of S.R.B.NAGAR 11th STREET?

The current guideline value of S.R.B.NAGAR 11th STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a significant increase of 450% over this period.

What are the other streets in Korattur with the same guideline value?

Other streets in Korattur with the same guideline value of Rs 3,300 per sq.ft include S.R.B.NAGAR 10th STREET, S.R.B.NAGAR 12th STREET, S.R.B.NAGAR 1st STREET, S.R.B.NAGAR 2nd STREET, S.R.B.NAGAR 3rd STREET, and S.R.B.NAGAR 4th STREET.

What is the registration fee for property in S.R.B.NAGAR 11th STREET?

The registration fee for property in S.R.B.NAGAR 11th STREET is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for S.R.B.NAGAR 11th STREET?

The Sub Registrar Office for S.R.B.NAGAR 11th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find your SRO online.