Guideline Value for S.R.B.NAGAR 6th STREET

S.R.B.NAGAR 6th STREET guideline value

The current guideline value of S.R.B.NAGAR 6th STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of S.R.B.NAGAR 6th STREET has changed

Over the years, the guideline value for S.R.B.NAGAR 6th STREET has seen significant changes. In 2007, the guideline value was Rs 600 per sq.ft. This figure increased dramatically 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 the 2023 revision, where it was set at Rs 3,000 per sq.ft. The current revision in 2024 shows an increase of 10%, bringing the value to Rs 3,300 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for S.R.B.NAGAR 6th STREET. 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 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, positioning S.R.B.NAGAR 6th STREET above this median with its current value of Rs 3,300 per sq.ft.

• S.R.B.NAGAR 5th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 7th 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 8th 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 9th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.B.NAGAR 6th 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, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.B.NAGAR 6th STREET?

The S.R.B.NAGAR 6th STREET falls under 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 when registering property transactions in Korattur. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. When a buyer and seller agree on a sale price, the higher of the two values—either the guideline value or the agreed sale price—is used to calculate the stamp duty and registration fees.

This ensures that the government receives appropriate revenue from property transactions, and buyers are aware of the financial implications of their purchases. Understanding the guideline value can help buyers and sellers make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of S.R.B.NAGAR 6th STREET?

The current guideline value of S.R.B.NAGAR 6th 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 an overall increase of 450% over this period.

What is the land classification for S.R.B.NAGAR 6th STREET?

S.R.B.NAGAR 6th STREET is classified as Residential Special Type - III.

What are the stamp duty and registration fees for a property in S.R.B.NAGAR 6th STREET?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for S.R.B.NAGAR 6th STREET?

The Villivakkam Sub Registrar Office covers S.R.B.NAGAR 6th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.