Guideline Value

Corporate

Guideline Value for Grama 1st Lane

₹7100/sq.ft.

The guideline value for Grama 1st Lane in Nungambakkam village (Chennai Central Joint Ii SRO, Chennai zone) is Rs 7100 per sq.ft, effective 1 July 2024. It was Rs 6500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nungambakkam

Village

Chennai Central Joint II

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹7100 /sq.ft.
From 1-4-2023 ₹6500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹4355 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹6500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /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:5/9, Kavigar Bharathidasan Salai, Seethamalcolony ,cresent Street Alwarpet,chennai -600018
044-24331038
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[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 Grama 1st Lane

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Grama 1st Lane guideline value

The current guideline value of Grama 1st Lane in Nungambakkam village is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Grama 1st Lane has changed

Over the years, the guideline value of Grama 1st Lane has seen several revisions. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, this value decreased to Rs 4,355 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 6,500 per sq.ft, followed by the current figure of Rs 7,100 per sq.ft in 2024, marking a 9% increase from the previous year.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 255%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that Grama 1st Lane's 2024 figure is below this median.

Stamp duty and registration fee for property in Grama 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 Grama 1st Lane?

The Sub Registrar Office covering Grama 1st Lane is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nungambakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, it is essential to refer to the current guideline value, as it impacts the overall cost of the transaction. Buyers must be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can significantly affect the total expenses involved in the property transfer.

Frequently asked questions

What is the current guideline value of Grama 1st Lane?

The current guideline value of Grama 1st Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 255% over the years.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, which means Grama 1st Lane's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Grama 1st Lane?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Sub Registrar Office for Grama 1st Lane located?

The Sub Registrar Office for Grama 1st Lane is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.