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Guideline Value

Corporate

Guideline Value for GOVARDANAN NAGAR - Gandhi Street

₹2500/sq.ft.

The guideline value for Govardanan Nagar - Gandhi 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 - Gandhi Street

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GOVARDANAN NAGAR - Gandhi Street guideline value

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

How the guideline value of GOVARDANAN NAGAR - Gandhi Street has changed

The guideline value for GOVARDANAN NAGAR - Gandhi Street has seen several revisions over the years. In 2007, the 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 2023 revision set the value at Rs 2,250 per sq.ft, and it has now risen to Rs 2,500 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 525%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nerkundram

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

Stamp duty and registration fee for property in GOVARDANAN NAGAR - Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers GOVARDANAN NAGAR - Gandhi Street?

The GOVARDANAN 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 information.

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

The guideline value is a crucial factor in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees when a property is bought or sold. The value is set by the government and is periodically revised to reflect changes in the real estate market.

When registering a property, buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for GOVARDANAN NAGAR - Gandhi Street?

The current guideline value for GOVARDANAN NAGAR - Gandhi 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 registration office for GOVARDANAN NAGAR - Gandhi Street?

The registration office for GOVARDANAN NAGAR - Gandhi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find more information about guideline values in Nerkundram?

More information about guideline values in Nerkundram can be found on the Registration Department's official website or by visiting the local Sub Registrar Office.