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Guideline Value

Corporate

Guideline Value for Alagammal Nagar 1st Main Road

₹2750/sq.ft.

The guideline value for Alagammal Nagar 1st Main Road in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 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

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹500 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹270 /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 Alagammal Nagar 1st Main Road

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Alagammal Nagar 1st Main Road guideline value

The current guideline value of Alagammal Nagar 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the jurisdiction of the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Alagammal Nagar 1st Main Road has changed

Looking at the historical revisions, the guideline value for Alagammal Nagar 1st Main Road has seen several changes over the years. In 2002, the value was Rs 270 per sq.ft, which increased to Rs 500 per sq.ft in both 2003 and 2007. The value then rose significantly to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,750 per sq.ft.

The changes between these revisions show a notable increase overall. From 2002 to 2024, the guideline value has increased by 919%. Specifically, the increase from 2023 to 2024 is 10%, while the rise from 2017 to 2023 was 49%. The value saw a decrease of 33% between 2012 and 2017, and a substantial increase of 400% from 2007 to 2012. The figures for 2003 to 2007 remained unchanged, and there are no figures available for the years not mentioned.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value for Alagammal Nagar 1st Main Road above this median.

Stamp duty and registration fee for property in Alagammal Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alagammal Nagar 1st Main Road?

The Sub Registrar Office that covers Alagammal Nagar 1st Main Road 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining 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 value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable duties and fees. This ensures transparency in the transaction and helps maintain a standardized approach to property valuation within the region.

Frequently asked questions

What is the current guideline value of Alagammal Nagar 1st Main Road?

The current guideline value of Alagammal Nagar 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 270 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Alagammal Nagar 1st Main Road?

Alagammal Nagar 1st Main Road is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,50,000, the stamp duty is Rs 1,92,500, and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Alagammal Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office handles registrations for Alagammal Nagar 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.