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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 3rd Main Road

₹2200/sq.ft.

The guideline value for Sri Lakshmi Nagar 3rd 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 3rd Main Road

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Sri Lakshmi Nagar 3rd Main Road guideline value

The current guideline value of Sri Lakshmi Nagar 3rd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street 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 3rd Main Road has changed

The guideline value for Sri Lakshmi Nagar 3rd Main Road has seen several revisions over the years. In 2002, the value was Rs 94 per sq.ft, which increased to Rs 104 per sq.ft in 2003. The value then rose significantly to Rs 350 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017 before climbing back to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,240%. Notably, there are no figures for the revisions in years other than those specified.

Guideline values in Nerkundram

Nerkundram has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Sri Lakshmi Nagar 3rd Main Road. Below are the guideline values for other streets in Nerkundram:

Stamp duty and registration fee for property in Sri Lakshmi Nagar 3rd 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 amounts to 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 together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Lakshmi Nagar 3rd Main Road?

The Sri Lakshmi Nagar 3rd Main Road falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is essential during the registration process for property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 3rd Main Road?

The current guideline value of Sri Lakshmi Nagar 3rd 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, marking an overall increase of 2,240% over the years.

What are the other streets with the same guideline value in Nerkundram?

Other streets in Nerkundram with the same guideline value of Rs 2,200 per sq.ft include Sri Lakshmi Nagar 3rd Cross Road, 3rd Cross Lane, 4th Cross Road, 2nd Main Road, 2nd Cross Road, and 2nd Cross Lane.

What is the registration fee for property in Sri Lakshmi Nagar 3rd Main Road?

The registration fee for property in Sri Lakshmi Nagar 3rd Main Road is calculated based on the guideline value. For a 1,000 sq.ft plot, the total registration fee would be Rs 44,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Sri Lakshmi Nagar 3rd Main Road?

The Sub Registrar Office covering Sri Lakshmi Nagar 3rd Main Road is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.