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Guideline Value

Corporate

Guideline Value for GANDHI NAGAR - Gandhi Street

₹2750/sq.ft.

The guideline value for Gandhi Nagar - Gandhi 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 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹650 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹587 /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 - Gandhi Street

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GANDHI NAGAR - Gandhi Street guideline value

The current guideline value of GANDHI NAGAR - Gandhi 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 - Gandhi Street has changed

The guideline value for GANDHI NAGAR - Gandhi Street has seen several revisions over the years. The earliest recorded value was Rs 587 per sq.ft in 2002, which increased to Rs 650 per sq.ft in 2003, marking an 11% rise. Following this, the value rose to Rs 750 per sq.ft in 2007, reflecting a 15% increase. The next revision in 2012 set the value at Rs 2,500 per sq.ft, a substantial increase of 233%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,750 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in the years not mentioned in this article. Overall, from the initial value in 2002 to the current value in 2024, there has been a total increase of 368%.

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. The guideline value for GANDHI NAGAR - Gandhi Street is below this median.

Stamp duty and registration fee for property in GANDHI NAGAR - Gandhi 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 amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost 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 GANDHI NAGAR - Gandhi Street?

The GANDHI NAGAR - Gandhi Street falls under 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 Virugambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of GANDHI NAGAR - Gandhi 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 changed from Rs 587 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 368% over the years.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft for the year 2024, while GANDHI NAGAR - Gandhi Street's value is below this median.

What are the stamp duty and registration fees for properties in GANDHI NAGAR - Gandhi Street?

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

Where is the Sub Registrar Office for GANDHI NAGAR - Gandhi Street located?

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