Guideline Value for S.R.B.NAGAR 3rd STREET

S.R.B.NAGAR 3rd STREET guideline value

The current guideline value of S.R.B.NAGAR 3rd 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 3rd STREET has changed

In 2007, the guideline value was Rs 600 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a change of +400%. The guideline value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, where it was raised to Rs 3,300 per sq.ft, an increase of +10%.

From 2023 to 2024, the guideline value increased to Rs 3,300 per sq.ft. Overall, from 2007 to 2024, the guideline value has risen by +450%. The register has no figures for the years 2002, 2003, and 2017 for this street.

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. The median guideline value for these streets is Rs 2,500 per sq.ft, making the guideline value of S.R.B.NAGAR 3rd STREET above that median.

• S.R.B.NAGAR 2nd STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 4th 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 5th 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 6th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.B.NAGAR 3rd 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, bringing the total to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers S.R.B.NAGAR 3rd STREET?

The S.R.B.NAGAR 3rd 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the Registration Department.

Frequently asked questions

What is the current guideline value of S.R.B.NAGAR 3rd STREET?

The current guideline value of S.R.B.NAGAR 3rd 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 increased 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 3rd STREET?

S.R.B.NAGAR 3rd STREET is classified as Residential Special Type - III under the current guidelines.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in S.R.B.NAGAR 3rd STREET?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,31,000.