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Guideline Value

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Guideline Value for Sri Lakshmi Nagar 11th Cross Street

₹3850/sq.ft.

The guideline value for Sri Lakshmi Nagar 11th 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 11th Cross Street

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Sri Lakshmi Nagar 11th Cross Street guideline value

The current guideline value of Sri Lakshmi Nagar 11th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Lakshmi Nagar 11th Cross Street has changed

The guideline value for Sri Lakshmi Nagar 11th Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 233 per sq.ft, which increased to Rs 254 per sq.ft in 2003. This was a rise of 9%. The value then jumped to Rs 500 per sq.ft in 2007, marking a substantial increase of 97%. Following this, the guideline value soared to Rs 3,500 per sq.ft in 2012, reflecting a remarkable increase of 600% from the previous revision.

From 2012 to the latest revision in 2024, the guideline value rose to Rs 3,850 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1552%. It is important to note that the register has no figures for the years 2017 and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of Sri Lakshmi Nagar 11th Cross Street.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 11th 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 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 guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar 11th Cross Street?

The Sri Lakshmi Nagar 11th Cross Street is covered by 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 a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher, to comply with legal requirements.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both parties in a transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar 11th Cross Street?

The current guideline value of Sri Lakshmi Nagar 11th 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, marking 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 Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Sri Lakshmi Nagar 11th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

Yes, several other streets in Valasaravakkam also have a guideline value of Rs 3,850 per sq.ft in 2024, including Sri Lakshmi Nagar 10th Cross Street and Sri Lakshmi Nagar 1st Cross Street, among others.