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Guideline Value

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Guideline Value for Sri Lakshmi Nagar 8th Cross Street

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 8th Cross Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
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 8th Cross Street

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Sri Lakshmi Nagar 8th Cross Street guideline value

The current guideline value of Sri Lakshmi Nagar 8th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar 8th Cross Street has changed

The guideline value for Sri Lakshmi Nagar 8th Cross Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 233 per sq.ft. This increased to Rs 254 per sq.ft in 2003, marking a rise of 9%. The value then surged to Rs 500 per sq.ft in 2007, reflecting a substantial increase of 97%. The next revision in 2012 set the value at Rs 3,500 per sq.ft, showing a remarkable jump of 600%. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the 2012 figure.

It is important to note that there are no guideline value figures available for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1552%.

Guideline values in Valasaravakkam

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

Stamp duty and registration fee for property in Sri Lakshmi Nagar 8th 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, making the total cost for these fees 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar 8th Cross Street?

The Sri Lakshmi Nagar 8th 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 an essential factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the higher value between the guideline value and the actual sale price is used to calculate these fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 8th Cross Street?

The current guideline value of Sri Lakshmi Nagar 8th 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, reflecting an overall increase of 1552% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Sri Lakshmi Nagar 8th Cross Street?

The Virugambakkam Sub Registrar Office handles property registrations for Sri Lakshmi Nagar 8th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Are there other streets in Valasaravakkam with the same guideline value?

Yes, several other streets in Valasaravakkam have the same guideline value of Rs 3,850 per sq.ft, including Sri Lakshmi Nagar 7th Street, Sri Lakshmi Nagar 8th Street, and others.