Explore LandLens: verify, value, build-check, track & transact smarter

Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 1st Main Road

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 1st Main Road in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Sri Lakshmi Nagar 1st Main Road guideline value

The current guideline value of Sri Lakshmi Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Sri Lakshmi Nagar 1st Main Road has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 600% rise. However, by 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and subsequently to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase from the previous year. The overall change from 2007 to 2024 is an increase of 670%.

There are no recorded figures for the revisions in 2002 and 2003 for this street. The guideline value has fluctuated significantly over the years, demonstrating various changes in the property market.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the current guideline value for 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 3,850 per sq.ft, the total guideline value is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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 further assistance.

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

The guideline value plays a crucial role in the property registration process in Valasaravakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. This value helps to maintain transparency and fairness in the property market, allowing for a clear understanding of the financial obligations involved in property transfers.

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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 670% over the years.

What is the median guideline value in Valasaravakkam?

The median guideline value in Valasaravakkam is Rs 3,850 per sq.ft, which is the same as the current value for Sri Lakshmi Nagar 1st Main Road.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

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.