Guideline Value

Corporate

Guideline Value for Sri Lakshmi Nagar

₹440/sq.ft.

The guideline value for Sri Lakshmi Nagar in Vilangadupakkam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Vilangadupakkam

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
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)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[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

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Sri Lakshmi Nagar guideline value

The current guideline value of Sri Lakshmi Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Lakshmi Nagar has changed

Over the years, the guideline value of Sri Lakshmi Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, it dropped to Rs 268 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose significantly to Rs 400 per sq.ft in 2023, and further increased to Rs 440 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the increase was 49%, bringing the value to Rs 400 per sq.ft. The overall change from 2007 to 2024 shows a substantial increase of 120%, with the current value at Rs 440 per sq.ft.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the current guideline value of Sri Lakshmi Nagar. Below are other streets in Vilangadupakkam with their respective guideline values:

Stamp duty and registration fee for property in Sri Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Lakshmi Nagar?

The Sub Registrar Office that covers Sri Lakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vilangadupakkam. It is used to determine the stamp duty and registration fees payable, ensuring that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

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

Frequently asked questions

What is the current guideline value of Sri Lakshmi Nagar?

The current guideline value of Sri Lakshmi Nagar is Rs 440 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 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, showing an overall increase of 120% over the years.

What are the other streets in Vilangadupakkam with similar guideline values?

Other streets in Vilangadupakkam with similar guideline values include Sri Krishna Nagar Phase - I, Sri Jayamaruthi Nagar, Sri Elumalai Avenue, Sri Devi Nagar, and Sri Chengalamman Nagar, all at Rs 440 per sq.ft in 2024.

What is the stamp duty rate for properties in Sri Lakshmi Nagar?

The stamp duty rate for properties in Sri Lakshmi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the registration office for Sri Lakshmi Nagar?

The registration office for Sri Lakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.