Guideline Value

Corporate

Guideline Value for CHINAMAYA NAGAR STAGE 1

₹4950/sq.ft.

The guideline value for Chinamaya Nagar Stage 1 in Chenchery village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chenchery

Village

Virugambakkam

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2100 /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 Chinamaya Nagar Stage 1

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Chinamaya Nagar Stage 1 guideline value

The current guideline value of Chinamaya Nagar Stage 1 is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Chenchery village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Chinamaya Nagar Stage 1 has changed

The guideline value for Chinamaya Nagar Stage 1 has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 2,100 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, marking a 114% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a reduction of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase, and subsequently reached the current rate of Rs 4,950 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 136%.

Guideline values in Chenchery

In Chenchery village, there are 44 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning Chinamaya Nagar Stage 1's 2024 figure above this median.

Stamp duty and registration fee for property in Chinamaya Nagar Stage 1

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinamaya Nagar Stage 1?

The Sub Registrar Office that covers Chinamaya Nagar Stage 1 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 Chenchery

When buying or selling property in Chenchery, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the transaction is aligned with the official valuations set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction, including the fees associated with registration. This ensures transparency and helps in maintaining a fair process during property transactions.

Frequently asked questions

What is the current guideline value of Chinamaya Nagar Stage 1?

The current guideline value of Chinamaya Nagar Stage 1 is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, representing an overall increase of 136% over the years.

What is the land classification for Chinamaya Nagar Stage 1?

The land classification for Chinamaya Nagar Stage 1 is Residential Class I Type - I, indicating its suitability for residential purposes.

How is the stamp duty calculated for properties in Chinamaya Nagar Stage 1?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,46,500.

Where can I find the Sub Registrar Office for Chinamaya Nagar Stage 1?

The Sub Registrar Office for Chinamaya Nagar Stage 1 is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.