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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 3rd Cross Street

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 3rd Cross Street 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 N/A
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 ₹254 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹233 /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 Cross Street

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Sri Lakshmi Nagar 3rd Cross Street guideline value

The current guideline value of Sri Lakshmi Nagar 3rd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar 3rd Cross Street has changed

The guideline value for Sri Lakshmi Nagar 3rd Cross Street has seen significant changes over the years. In 2002, the value was Rs 233 per sq.ft, which increased to Rs 254 per sq.ft in 2003, marking a 9% rise. The value continued to rise, reaching Rs 500 per sq.ft in 2007, a substantial increase of 97%. Following this, the value remained unchanged at Rs 3,500 per sq.ft in both 2012 and 2023. The most recent revision in 2024 saw the guideline value rise to Rs 3,850 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1552%, reflecting the changes in the area over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the current guideline value of Sri Lakshmi Nagar 3rd Cross Street.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Lakshmi Nagar 3rd Cross Street?

The Sri Lakshmi Nagar 3rd Cross Street is covered by 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 Valasaravakkam

The guideline value is a crucial factor in the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 3rd Cross Street?

The current guideline value of Sri Lakshmi Nagar 3rd Cross Street 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 increased significantly from Rs 233 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1552%.

What is the stamp duty rate for properties in Sri Lakshmi Nagar 3rd Cross Street?

The stamp duty rate for properties in Sri Lakshmi Nagar 3rd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

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

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

Other streets in Valasaravakkam with the same guideline value of Rs 3,850 per sq.ft include Sri Lakshmi Nagar 3rd Main Road, Sri Lakshmi Nagar 3rd Street, Sri Lakshmi Nagar 2nd Street, Sri Lakshmi Nagar 2nd Main Road, Sri Lakshmi Nagar 4th Cross Street, and Sri Lakshmi Nagar 4th Street.