Guideline Value for S.R.B.NAGAR 12th STREET

S.R.B.NAGAR 12th STREET guideline value

The current guideline value of S.R.B.NAGAR 12th STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of S.R.B.NAGAR 12th STREET has changed

The guideline value for S.R.B.NAGAR 12th STREET has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. The value remained unchanged at Rs 3,000 per sq.ft until 2023.

In 2023, the guideline value was revised to Rs 3,300 per sq.ft, reflecting a 10% increase. This current value will be effective from 1 July 2024. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value among these streets is Rs 2,500 per sq.ft, indicating that S.R.B.NAGAR 12th STREET's 2024 guideline value is above this median.

• S.R.B.NAGAR 11th 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 10th 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 12th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.B.NAGAR 12th STREET?

The S.R.B.NAGAR 12th STREET is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of S.R.B.NAGAR 12th STREET?

The current guideline value of S.R.B.NAGAR 12th 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, marking an overall increase of 450%.

What is the land classification for S.R.B.NAGAR 12th STREET?

The land classification for S.R.B.NAGAR 12th STREET is Residential Special Type - III.

Which authority manages the guideline values in Korattur?

The guideline values in Korattur are managed by the Villivakkam Sub Registrar Office, which oversees the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a total cost of Rs 2,97,000 in fees.