Guideline Value for S.R.B.NAGAR 1st STREET

S.R.B.NAGAR 1st STREET guideline value

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

How the guideline value of S.R.B.NAGAR 1st STREET has changed

Over the years, the guideline value of S.R.B.NAGAR 1st STREET has seen significant changes. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision. This marked a substantial rise of 400%. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which increased it to Rs 3,300 per sq.ft, reflecting a 10% increase.

From 2007 to the 2024 revision, the overall increase in guideline value is 450%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street in the register.

Guideline values in Korattur

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

• S.R.B.NAGAR 12th 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 11th 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 10th 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 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be 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, making the total fees 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 1st STREET?

The Sub Registrar Office that covers S.R.B.NAGAR 1st STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 is a crucial factor when registering property in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When you buy or sell property, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency in property transactions and helps in maintaining a fair valuation system.

Frequently asked questions

What is the current guideline value of S.R.B.NAGAR 1st STREET?

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450%.

What is the land classification for S.R.B.NAGAR 1st STREET?

S.R.B.NAGAR 1st STREET is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.

Which office handles registrations for S.R.B.NAGAR 1st STREET?

The Villivakkam Sub Registrar Office handles registrations for S.R.B.NAGAR 1st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.