Guideline Value for S.R.B.NAGAR 8th STREET

S.R.B.NAGAR 8th STREET guideline value

The current guideline value of S.R.B.NAGAR 8th 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. The land classification for this area is Residential Special Type - III.

How the guideline value of S.R.B.NAGAR 8th STREET has changed

The guideline value for S.R.B.NAGAR 8th STREET has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a reduction of 33%. Following this, the guideline value rose again to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

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 guideline value in this area is Rs 2,500 per sq.ft, indicating that S.R.B.NAGAR 8th STREET's 2024 figure is above this median.

• S.R.B.NAGAR 7th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 9th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 6th 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 4th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.B.NAGAR 8th 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, charged at 7%, would be 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers S.R.B.NAGAR 8th STREET?

The Sub Registrar Office that covers S.R.B.NAGAR 8th 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 is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are levied. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of S.R.B.NAGAR 8th STREET?

The current guideline value of S.R.B.NAGAR 8th 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 the years.

What is the land classification for S.R.B.NAGAR 8th STREET?

The land classification for S.R.B.NAGAR 8th STREET is Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Villivakkam Sub Registrar Office covers S.R.B.NAGAR 8th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.