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Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar 3rd Cross Lane

₹2200/sq.ft.

The guideline value for Sri Lakshmi Nagar 3rd Cross Lane in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹104 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹94 /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 3rd Cross Lane

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Sri Lakshmi Nagar 3rd Cross Lane guideline value

The current guideline value for Sri Lakshmi Nagar 3rd Cross Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Sri Lakshmi Nagar 3rd Cross Lane has changed

The guideline value for Sri Lakshmi Nagar 3rd Cross Lane has undergone several revisions over the years. In 2002, the value was Rs 94 per sq.ft, which increased to Rs 104 per sq.ft in 2003. The value saw a significant rise to Rs 350 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value was Rs 2,000 per sq.ft in 2023 before reaching the current rate of Rs 2,200 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 11%. The value rose by 237% from 2003 to 2007, and then it increased by 471% from 2007 to 2012. The value decreased by 33% from 2012 to 2017. A significant increase of 49% occurred from 2017 to 2023, and finally, there was a 10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 2240%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value for Sri Lakshmi Nagar 3rd Cross Lane.

Stamp duty and registration fee for property in Sri Lakshmi Nagar 3rd Cross Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Lakshmi Nagar 3rd Cross Lane?

The Sub Registrar Office that covers Sri Lakshmi Nagar 3rd Cross Lane 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 information.

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

The guideline value plays a crucial role when buying or selling property in Nerkundram. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a fair value. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value for Sri Lakshmi Nagar 3rd Cross Lane?

The current guideline value for Sri Lakshmi Nagar 3rd Cross Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 94 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2240% over the years.

What is the stamp duty for property in Sri Lakshmi Nagar 3rd Cross Lane?

The stamp duty for property in Sri Lakshmi Nagar 3rd Cross Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Lakshmi Nagar 3rd Cross Lane located?

The Sub Registrar Office for Sri Lakshmi Nagar 3rd Cross Lane is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with the same guideline value of Rs 2,200 per sq.ft include Sri Lakshmi Nagar 3rd Cross Road, Sri Lakshmi Nagar 3rd Main Road, Sri Lakshmi Nagar 2nd Main Road, Sri Lakshmi Nagar 4th Cross Road, Sri Lakshmi Nagar 2nd Cross Road, and Sri Lakshmi Nagar 2nd Cross Lane.