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Guideline Value

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Guideline Value for Sri Lakshmi Nagar 7th Cross Street

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 7th 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 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 7th Cross Street

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Sri Lakshmi Nagar 7th Cross Street guideline value

The current guideline value of Sri Lakshmi Nagar 7th 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, and is classified as Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar 7th Cross Street has changed

The guideline value for Sri Lakshmi Nagar 7th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 500 per sq.ft. This value saw a significant increase to Rs 3,500 per sq.ft in 2012, marking a 600% rise. However, there were no recorded figures for the years 2002, 2003, and 2017.

In the subsequent revisions, the value remained unchanged at Rs 3,500 per sq.ft from 2012 to 2023. The latest revision in 2024 saw an increase to Rs 3,850 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 670%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 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 is equal to the current guideline value of Sri Lakshmi Nagar 7th Cross Street.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 7th 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 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.

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

Which Sub Registrar Office covers Sri Lakshmi Nagar 7th Cross Street?

The Sri Lakshmi Nagar 7th Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the transaction process.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 7th Cross Street?

The current guideline value of Sri Lakshmi Nagar 7th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much 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, marking an overall increase of 670%.

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 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,46,500.

Which office handles property registrations for Sri Lakshmi Nagar 7th Cross Street?

The Virugambakkam Sub Registrar Office handles property registrations for Sri Lakshmi Nagar 7th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Valasaravakkam?

The guideline value is determined based on various factors, including land classification and prevailing market conditions in the area. It is updated periodically to reflect changes in the real estate landscape.