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Guideline Value

Corporate

Guideline Value for GANDHI NAGAR - Variar Street

₹2750/sq.ft.

The guideline value for Gandhi Nagar - Variar 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 ₹389 /sq.ft.
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 Gandhi Nagar - Variar Street

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GANDHI NAGAR - Variar Street guideline value

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

The guideline value for GANDHI NAGAR - Variar Street has seen significant changes over the years. The 2003 revision set the value at Rs 389 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the 2012 revision brought the value to Rs 2,500 per sq.ft, but it dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,500 per sq.ft, and the current 2024 revision has further increased it to Rs 2,750 per sq.ft.

In terms of percentage changes, the value increased by 29% from 2003 to 2007, decreased by 33% from 2012 to 2017, and rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2003 to 2024, the guideline value has increased by 607%. The register has no figure for this street for the year 2002.

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 - Variar Street's 2024 guideline value is below this median.

Stamp duty and registration fee for property in GANDHI NAGAR - Variar 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 fees together Rs 2,47,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers GANDHI NAGAR - Variar Street?

The Sub Registrar Office that covers GANDHI NAGAR - Variar 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 is a critical factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value of property transactions, ensuring that the sale price is reflective of the property's worth as assessed by the government.

When registering a property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded fairly and transparently, based on the established values set by the Registration Department.

Frequently asked questions

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

The current guideline value of GANDHI NAGAR - Variar 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 several times, starting from Rs 389 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 607% over the years.

What is the stamp duty and registration fee for properties in this area?

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 Virugambakkam Sub Registrar Office located?

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

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

GANDHI NAGAR - Variar Street is classified as Residential Class IV Type - II, indicating its use for residential purposes.