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Guideline Value

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Guideline Value for Sri Lakshmi Nagar 8th Street

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 8th 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 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 8th Street

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Sri Lakshmi Nagar 8th Street guideline value

The current guideline value of Sri Lakshmi Nagar 8th 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 8th Street has changed

The guideline value for Sri Lakshmi Nagar 8th Street has seen several revisions over the years. The earliest available revision is from 2012, where the value was set at Rs 3,500 per sq.ft. This figure was revised to Rs 3,850 per sq.ft in 2024, marking a change of +10% from the 2012 figure.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only significant changes noted are from the 2012 revision to the 2024 revision.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a guideline value for 2024, 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 the same as the guideline value for Sri Lakshmi Nagar 8th Street.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 8th 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, while 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 and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sri Lakshmi Nagar 8th Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

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

The current guideline value of Sri Lakshmi Nagar 8th 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 was Rs 3,500 per sq.ft in 2012 and increased to Rs 3,850 per sq.ft in 2024, representing a +10% change. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Sri Lakshmi Nagar 8th Street?

Sri Lakshmi Nagar 8th Street is classified as Residential Class II Type - I. This classification is crucial for understanding the permissible land use in the area.

What are the stamp duty and registration fees for properties 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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office is responsible for property registrations in the area.