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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 7th Street

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 7th 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 N/A
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 Street

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Sri Lakshmi Nagar 7th Street guideline value

The current guideline value of Sri Lakshmi Nagar 7th 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 Street has changed

The guideline value for Sri Lakshmi Nagar 7th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 3,500 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 3,500 per sq.ft, indicating no change from 2012 to 2023.

For the years 2002, 2003, 2007, and 2017, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 is Rs 3,850 per sq.ft, which aligns with the 2024 figure for Sri Lakshmi Nagar 7th Street.

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

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

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

The Sub Registrar Office that covers Sri Lakshmi Nagar 7th Street is 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 in property transactions in Valasaravakkam, as it determines the minimum price at which property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value is regularly updated, reflecting changes in the real estate market and local development.

Frequently asked questions

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

The current guideline value for Sri Lakshmi Nagar 7th 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 from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. The value remained the same at Rs 3,500 per sq.ft from 2012 to 2023.

What is the land classification for Sri Lakshmi Nagar 7th Street?

Sri Lakshmi Nagar 7th Street is classified as Residential Class II Type - I. This classification is important for understanding the permissible uses of the land.

Where can I find the Virugambakkam Sub Registrar Office?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Sri Lakshmi Nagar 7th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would amount to Rs 2,69,500.