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Guideline Value

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Guideline Value for GANDHI NAGAR - Devi Karumariamman Street

₹2750/sq.ft.

The guideline value for Gandhi Nagar - Devi Karumariamman Street 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 ₹253 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹228 /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 - Devi Karumariamman Street

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GANDHI NAGAR - Devi Karumariamman Street guideline value

The current guideline value for GANDHI NAGAR - Devi Karumariamman Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of GANDHI NAGAR - Devi Karumariamman Street has changed

Over the years, the guideline value for GANDHI NAGAR - Devi Karumariamman Street has seen significant changes. The earliest recorded value was Rs 228 per sq.ft in 2002, which increased to Rs 253 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose by 98% to Rs 500 per sq.ft in 2007. In 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial increase of 400% from the previous revision. However, between 2017 and 2023, the value increased to Rs 2,500 per sq.ft, then to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, moving from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft. The overall increase from 2002 to 2024 is a remarkable 1,106%.

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, with a median value of Rs 4,400 per sq.ft. GANDHI NAGAR - Devi Karumariamman Street's 2024 guideline value is below this median.

Stamp duty and registration fee for property in GANDHI NAGAR - Devi Karumariamman Street

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 be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total Rs 2,47,500. 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 GANDHI NAGAR - Devi Karumariamman Street?

The Sub Registrar Office that covers GANDHI NAGAR - Devi Karumariamman Street is 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 Virugambakkam

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as a reference point for determining the minimum price at which a 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 stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of GANDHI NAGAR - Devi Karumariamman Street?

The current guideline value of GANDHI NAGAR - Devi Karumariamman Street 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 increased significantly from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,106%.

What is the land classification for GANDHI NAGAR - Devi Karumariamman Street?

The land classification for GANDHI NAGAR - Devi Karumariamman Street is Residential Class IV Type - II.

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

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 27,50,000.