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Guideline Value

Corporate

Guideline Value for Ganpath Raj Nagar - Gandhi Road

₹4400/sq.ft.

The guideline value for Ganpath Raj Nagar - Gandhi Road in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /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 Ganpath Raj Nagar - Gandhi Road

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Ganpath Raj Nagar - Gandhi Road guideline value

The current guideline value for Ganpath Raj Nagar - Gandhi Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Virugambakkam village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Ganpath Raj Nagar - Gandhi Road has changed

Over the years, the guideline value for Ganpath Raj Nagar - Gandhi Road has seen significant revisions. The earliest recorded revision in 2007 set the value at Rs 1,100 per sq.ft. This figure increased dramatically to Rs 4,000 per sq.ft in 2012, marking a 264% rise. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value rebounded to Rs 4,000 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 4,400 per sq.ft in 2024.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the increase is a substantial 300%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Ganpath Raj Nagar - Gandhi Road.

Stamp duty and registration fee for property in Ganpath Raj Nagar - Gandhi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganpath Raj Nagar - Gandhi Road?

The Ganpath Raj Nagar - Gandhi Road area 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 critical factor in the registration process of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in relation to similar properties in the area. This valuation is essential for legal and financial documentation during the registration process.

Frequently asked questions

What is the current guideline value for Ganpath Raj Nagar - Gandhi Road?

The current guideline value for Ganpath Raj Nagar - Gandhi Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 300% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for Ganpath Raj Nagar - Gandhi Road?

The Virugambakkam Sub Registrar Office covers Ganpath Raj Nagar - Gandhi Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration price for properties, impacting the stamp duty and registration fees payable during a transaction. It helps ensure fair valuation and proper revenue collection by the government.