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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 1st Main Road

₹2200/sq.ft.

The guideline value for Sri Lakshmi Nagar 1st Main Road in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹104 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹94 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Lakshmi Nagar 1st Main Road

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Sri Lakshmi Nagar 1st Main Road guideline value

The current guideline value of Sri Lakshmi Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Sri Lakshmi Nagar 1st Main Road has changed

The guideline value for Sri Lakshmi Nagar 1st Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 94 per sq.ft, which increased to Rs 104 per sq.ft in 2003. Following this, the value saw significant growth, reaching Rs 350 per sq.ft in 2007. The 2012 revision brought the value to Rs 2,000 per sq.ft, which was a decrease of 33% from the previous figure. In 2017, the value rose to Rs 1,340 per sq.ft, and by 2023, it further increased to Rs 2,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 2240%. Notably, there are no figures available for the revisions in years other than those specified above for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Sri Lakshmi Nagar 1st Main Road.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Lakshmi Nagar 1st Main Road?

The Sub Registrar Office that covers Sri Lakshmi Nagar 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nerkundram. When buying or selling property, this value is used to determine the stamp duty and registration fees, which are mandatory charges during the property transfer process.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost involved in property transactions. Ensuring that the transaction is registered at the correct guideline value helps in maintaining transparency and legality in the property market.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 1st Main Road?

The current guideline value of Sri Lakshmi Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 94 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Sri Lakshmi Nagar 1st Main Road?

Sri Lakshmi Nagar 1st Main Road is classified as Residential Class IV Type - I.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,98,000.

Which office handles property registrations for Sri Lakshmi Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office handles property registrations for Sri Lakshmi Nagar 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.