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Guideline Value

Corporate

Guideline Value for Chowdri Nagar Main Road 2nd Cross

₹4400/sq.ft.

The guideline value for Chowdri Nagar Main Road 2nd Cross in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹650 /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 Chowdri Nagar Main Road 2nd Cross

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Chowdri Nagar Main Road 2nd Cross guideline value

The current guideline value of Chowdri Nagar Main Road 2nd Cross is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Chowdri Nagar Main Road 2nd Cross has changed

In the 2007 revision, the guideline value was Rs 650 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 4,000 per sq.ft, marking an increase of 515%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then increased to Rs 4,000 per sq.ft in the 2023 revision, followed by a further rise to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 577%. The changes between the revisions reflect various economic factors affecting property values in the area.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Chowdri Nagar Main Road 2nd Cross is above this median.

Stamp duty and registration fee for property in Chowdri Nagar Main Road 2nd Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Chowdri Nagar Main Road 2nd Cross?

The Chowdri Nagar Main Road 2nd Cross 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 further assistance.

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

The guideline value is an important factor in property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are typically based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chowdri Nagar Main Road 2nd Cross?

The current guideline value of Chowdri Nagar Main Road 2nd Cross is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 650 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 577%.

What is the land classification for Chowdri Nagar Main Road 2nd Cross?

The land classification for Chowdri Nagar Main Road 2nd Cross is Residential Class I Type - II.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Chowdri Nagar Main Road 2nd Cross is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Chowdri Nagar Main Road 2nd Cross is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.