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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 4th Cross Road

₹2200/sq.ft.

The guideline value for Sri Lakshmi Nagar 4th 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 4th Cross Road

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Sri Lakshmi Nagar 4th Cross Road guideline value

The current guideline value of Sri Lakshmi Nagar 4th Cross Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam Sub Registrar Office (SRO), and is classified as Residential Class IV Type - I.

How the guideline value of Sri Lakshmi Nagar 4th Cross Road has changed

The guideline value for Sri Lakshmi Nagar 4th Cross Road has seen several revisions over the years. Starting from Rs 94 per sq.ft in 2002, it increased to Rs 104 per sq.ft in 2003, marking a change of +11%. The value then surged significantly to Rs 350 per sq.ft in 2007, a change of +237%. Following this, the value jumped to Rs 2,000 per sq.ft in 2012, an increase of +471%. However, there was a decline to Rs 1,340 per sq.ft in 2017, with a change of -33%. The value rose again to Rs 2,000 per sq.ft in 2023, reflecting a +49% change, and finally reached the current value of Rs 2,200 per sq.ft in 2024, which is a +10% increase.

There are no figures available for the revisions in years other than those listed above. The overall change from 2002 to 2024 is +2240%.

Guideline values in Nerkundram

Nerkundram village 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 for these streets is Rs 2,200 per sq.ft, placing Sri Lakshmi Nagar 4th Cross Road at this median value.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 4th Cross Road

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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.

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

Which Sub Registrar Office covers Sri Lakshmi Nagar 4th Cross Road?

The Sub Registrar Office covering Sri Lakshmi Nagar 4th Cross 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 plays a crucial role in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, 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 registration process is transparent and fair, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 4th Cross Road?

The current guideline value of Sri Lakshmi Nagar 4th 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% over the years.

What is the land classification for Sri Lakshmi Nagar 4th Cross Road?

Sri Lakshmi Nagar 4th Cross Road is classified as Residential Class IV Type - I.

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.

Where is the Sub Registrar Office for Sri Lakshmi Nagar 4th Cross Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.