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Guideline Value

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Guideline Value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET"

₹3300/sq.ft.

The guideline value for Venkataraman Nagar "lakshmanamuthaliar 1st Street" in Korattur village (Villivakkam SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Korattur

Village

Villivakkam

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹850 /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)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[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 Venkataraman Nagar "lakshmanamuthaliar 1st Street"

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VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET" guideline value

The current guideline value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET" is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET" has changed

The guideline value for this street has undergone several revisions over the years. In 2007, the value was set at Rs 850 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Notably, the guideline value saw a remarkable increase of 253% from 2007 to 2012. Overall, from 2007 to 2024, the value has increased by 288%. There are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, indicating that the 2024 guideline value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET" is above this median.

Stamp duty and registration fee for property in VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET"

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET"?

The Sub Registrar Office that covers VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this valuation.

When buying or selling property, both the buyer and seller must be aware of the guideline value to avoid any discrepancies during the registration process. It is essential to consider this value to ensure compliance with local regulations and to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET"?

The current guideline value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET" is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 288% over the years.

What is the land classification for this street?

VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET" is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for this area?

The Villivakkam Sub Registrar Office covers this area, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000.