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Guideline Value

Corporate

Guideline Value for GANDHI NAGAR - Main Road

₹2750/sq.ft.

The guideline value for Gandhi Nagar - Main Road in Virugambakkam 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 Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class IV Type - II
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 ₹277 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹250 /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 Gandhi Nagar - Main Road

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GANDHI NAGAR - Main Road guideline value

The current guideline value for GANDHI NAGAR - Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of GANDHI NAGAR - Main Road has changed

The guideline value for GANDHI NAGAR - Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 250 per sq.ft. This increased to Rs 277 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 500 per sq.ft in 2007, representing an increase of 81%. Following this, in 2012, the guideline value decreased to Rs 2,500 per sq.ft, a drop of 400%. The value then increased to Rs 1,675 per sq.ft in 2017, which was a 49% increase from the previous revision. In 2023, the guideline value was Rs 2,500 per sq.ft, and it has now increased to Rs 2,750 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for any other years for this street. Overall, from 2002 to 2024, the guideline value has increased by 1000%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing GANDHI NAGAR - Main Road below that median.

Stamp duty and registration fee for property in GANDHI NAGAR - 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 would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers GANDHI NAGAR - Main Road?

The GANDHI NAGAR - Main Road falls under the jurisdiction of 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 Virugambakkam

The guideline value is a crucial factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is important to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any disputes during the transaction process.

Frequently asked questions

What is the current guideline value for GANDHI NAGAR - Main Road?

The current guideline value for GANDHI NAGAR - 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 multiple times, starting from Rs 250 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the stamp duty rate for property transactions in GANDHI NAGAR - Main Road?

The stamp duty rate for property transactions in GANDHI NAGAR - Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for GANDHI NAGAR - Main Road?

The Sub Registrar Office covering GANDHI NAGAR - Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for GANDHI NAGAR - Main Road?

GANDHI NAGAR - Main Road is classified as Residential Class IV Type - II according to the local land classification regulations.