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Guideline Value

Corporate

Guideline Value for GANDHI NAGAR - Kannadasan Street

₹2750/sq.ft.

The guideline value for Gandhi Nagar - Kannadasan 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 - Kannadasan Street

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GANDHI NAGAR - Kannadasan Street guideline value

The current guideline value for GANDHI NAGAR - Kannadasan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street 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 - Kannadasan Street has changed

The guideline value for GANDHI NAGAR - Kannadasan Street has seen several revisions over the years. Starting from Rs 228 per sq.ft in 2002, the value increased to Rs 253 per sq.ft in 2003, marking an increase of 11%. The next significant jump occurred in 2007, where the value rose to Rs 500 per sq.ft, reflecting a 98% increase. In 2012, the value reached Rs 2,500 per sq.ft, a notable increase of 400% from the previous revision. However, between 2017 and 2023, the value further increased to Rs 2,500 per sq.ft, then saw a rise to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the value rose from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft, which is a 49% increase. The overall change from 2002 to 2024 is a substantial increase of 1106%. There are no figures available for the revisions in years other than those listed.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing GANDHI NAGAR - Kannadasan Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to 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, bringing the total fees together 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers GANDHI NAGAR - Kannadasan Street?

The Sub Registrar Office covering GANDHI NAGAR - Kannadasan 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transfer.

Frequently asked questions

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

The current guideline value for GANDHI NAGAR - Kannadasan 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 from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1106% over this period.

What is the land classification for GANDHI NAGAR - Kannadasan Street?

GANDHI NAGAR - Kannadasan Street is classified as Residential Class IV Type - II.

Where is the Virugambakkam Sub Registrar Office located?

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 for properties?

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 fees amount to Rs 2,47,500.