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Guideline Value

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Guideline Value for Sri Lakshnmi Nagar - G.K.Street

₹3850/sq.ft.

The guideline value for Sri Lakshnmi Nagar - G.k.street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. 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 ₹3500 /sq.ft.
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 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 Lakshnmi Nagar - G.k.street

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Sri Lakshnmi Nagar - G.K.Street guideline value

The current guideline value of Sri Lakshnmi Nagar - G.K.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, classified as Residential Class II Type - I.

How the guideline value of Sri Lakshnmi Nagar - G.K.Street has changed

The guideline value for Sri Lakshnmi Nagar - G.K.Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 500 per sq.ft, which saw a significant increase to Rs 3,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the guideline value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Between the revisions, the guideline value increased by 600% from 2007 to 2012, and there was no change from 2012 to 2023. Overall, the increase from 2007 to 2024 amounts to 670%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which matches the guideline value of Sri Lakshnmi Nagar - G.K.Street.

Stamp duty and registration fee for property in Sri Lakshnmi Nagar - G.K.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, while the registration fee at 2% would be Rs 77,000, totaling 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. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sri Lakshnmi Nagar - G.K.Street?

The Sri Lakshnmi Nagar - G.K.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 plays a crucial role in property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Sri Lakshnmi Nagar - G.K.Street?

The current guideline value of Sri Lakshnmi Nagar - G.K.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 changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 670% over the years.

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

Other streets in Valasaravakkam with the same guideline value of Rs 3,850 per sq.ft include Sri Lakshnmi Nagar 3 rd Main Road, Sri Lakshmi Nagar 9th Cross Street, Sri Lakshmi Nagar 8th Street, Sri Lakshmi Nagar 8th Cross Street, Sri Lakshmi Nagar 7th Street, and Sri Lakshmi Nagar 7th Cross Street.

What is the stamp duty rate for properties in Sri Lakshnmi Nagar - G.K.Street?

The stamp duty rate for properties in Sri Lakshnmi Nagar - G.K.Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties in Sri Lakshnmi Nagar - G.K.Street?

The Virugambakkam Sub Registrar Office handles registrations for properties in Sri Lakshnmi Nagar - G.K.Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.