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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 4th Cross Street

₹3850/sq.ft.

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

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Sri Lakshmi Nagar 4th Cross Street guideline value

The current guideline value of Sri Lakshmi Nagar 4th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Sri Lakshmi Nagar 4th Cross Street has seen several revisions over the years. Starting from Rs 233 per sq.ft in 2002, it increased to Rs 254 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 500 per sq.ft in 2007, reflecting a 97% increase. By 2012, the guideline value remained steady at Rs 3,500 per sq.ft, which was unchanged until 2023.

The latest revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, representing a 10% increase from the previous year's figure of Rs 3,500 per sq.ft. It is noteworthy that there was no figure recorded for this street in the 2017 revision.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with a 2024 guideline value range from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which matches the current guideline value for Sri Lakshmi Nagar 4th Cross Street.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 4th 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 amounts to 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 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 our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Sri Lakshmi Nagar 4th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

When a transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is fair and transparent, reflecting the value of the property accurately.

Frequently asked questions

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

The current guideline value of Sri Lakshmi Nagar 4th 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 from Rs 233 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1552% over the years.

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

The land classification for Sri Lakshmi Nagar 4th Cross Street is Residential Class II Type - I.

Where is the Sub Registrar Office located for this area?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur stamp duty and registration fees totaling Rs 3,46,500.