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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 5th Cross Street

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 5th 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 ₹325 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹299 /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 5th Cross Street

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Sri Lakshmi Nagar 5th Cross Street guideline value

The current guideline value of Sri Lakshmi Nagar 5th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, falling under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar 5th Cross Street has changed

The guideline value for Sri Lakshmi Nagar 5th Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 299 per sq.ft, which increased to Rs 325 per sq.ft in 2003, marking a 9% rise. The value continued to rise significantly, reaching Rs 500 per sq.ft in 2007, a 54% increase from the previous revision. By 2012, the value remained at Rs 3,500 per sq.ft, showing no change from the 2012 revision to 2023.

In 2023, the guideline value was Rs 3,500 per sq.ft, and with the latest revision in 2024, it has increased to Rs 3,850 per sq.ft, reflecting a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1188%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which matches the current guideline value for Sri Lakshmi Nagar 5th Cross Street.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 5th 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, bringing the total cost 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar 5th Cross Street?

The Sri Lakshmi Nagar 5th Cross Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that transactions are conducted fairly and transparently.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that all parties are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 5th Cross Street?

The current guideline value of Sri Lakshmi Nagar 5th 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 changed significantly from Rs 299 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1188% over the years.

What is the land classification for Sri Lakshmi Nagar 5th Cross Street?

Sri Lakshmi Nagar 5th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft property at the current rate incurs a total cost of Rs 3,46,500 in fees.

Which Sub Registrar Office is responsible for Sri Lakshmi Nagar 5th Cross Street?

The Virugambakkam Sub Registrar Office is responsible for Sri Lakshmi Nagar 5th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.