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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 2nd Cross Road

₹2200/sq.ft.

The guideline value for Sri Lakshmi Nagar 2nd Cross 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 2nd Cross Road

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Sri Lakshmi Nagar 2nd Cross Road guideline value

The current guideline value of Sri Lakshmi Nagar 2nd Cross 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 is classified as Residential Class IV Type - I.

How the guideline value of Sri Lakshmi Nagar 2nd Cross Road has changed

The guideline value for Sri Lakshmi Nagar 2nd Cross Road has experienced 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, marking a change of +11%. The value saw a significant rise to Rs 350 per sq.ft in 2007, which represented an increase of +237%. Following this, the value rose dramatically to Rs 2,000 per sq.ft in 2012, a substantial increase of +471%. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a drop of -33%. The value was revised to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, showing a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +2240%. There are no figures available for any other revisions for this street.

Guideline values in Nerkundram

In Nerkundram, there are 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 2nd Cross Road.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 2nd Cross Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the 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 to Rs 1,98,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lakshmi Nagar 2nd Cross Road?

The Sri Lakshmi Nagar 2nd Cross Road falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To locate your SRO, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nerkundram. It serves as a reference point for determining the stamp duty and registration fees applicable to a property transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 2nd Cross Road?

The current guideline value of Sri Lakshmi Nagar 2nd Cross 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 an overall increase of +2240% across the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Sri Lakshmi Nagar 2nd Cross Road?

The Virugambakkam Sub Registrar Office covers Sri Lakshmi Nagar 2nd Cross Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Sri Lakshmi Nagar 2nd Cross Road?

Sri Lakshmi Nagar 2nd Cross Road is classified as Residential Class IV Type - I.