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Guideline Value

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Guideline Value for GOVARDANAN NAGAR - Dr.M.G.R.Street

₹2500/sq.ft.

The guideline value for Govardanan Nagar - Dr.m.g.r.street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2500 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - II
History
Period Guideline Value
From 1-7-2024 ₹2500 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
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 Govardanan Nagar - Dr.m.g.r.street

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GOVARDANAN NAGAR - Dr.M.G.R.Street guideline value

The current guideline value for GOVARDANAN NAGAR - Dr.M.G.R.Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of GOVARDANAN NAGAR - Dr.M.G.R.Street has changed

The guideline value for GOVARDANAN NAGAR - Dr.M.G.R.Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,250 per sq.ft in 2012. However, it then decreased to Rs 1,507 per sq.ft in 2017. The value rose again to Rs 2,250 per sq.ft in 2023, and currently stands at Rs 2,500 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most significant increase occurred from 2007 to 2012, with a rise of 463%. Overall, from 2007 to 2024, the guideline value has increased by 525%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing GOVARDANAN NAGAR - Dr.M.G.R.Street's current value above this median.

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Dr.M.G.R.Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees together to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers GOVARDANAN NAGAR - Dr.M.G.R.Street?

The GOVARDANAN NAGAR - Dr.M.G.R.Street 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 Nerkundram

The guideline value is a crucial factor in the registration process of property transactions in Nerkundram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that all transactions are subject to the same regulatory framework, maintaining consistency in property dealings.

Frequently asked questions

What is the current guideline value for GOVARDANAN NAGAR - Dr.M.G.R.Street?

The current guideline value for GOVARDANAN NAGAR - Dr.M.G.R.Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 525% over the years.

What is the land classification for GOVARDANAN NAGAR - Dr.M.G.R.Street?

The land classification for GOVARDANAN NAGAR - Dr.M.G.R.Street is Residential Class III Type - II.

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

The Sub Registrar Office for GOVARDANAN NAGAR - Dr.M.G.R.Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Nerkundram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 25,00,000, the stamp duty at 7% would amount to Rs 1,75,000.