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Guideline Value

Corporate

Guideline Value for INDIRA NAGAR 2nd Street

₹2750/sq.ft.

The guideline value for Indira Nagar 2nd 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 ₹320 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹289 /sq.ft.
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 Indira Nagar 2nd Street

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INDIRA NAGAR 2nd Street guideline value

The current guideline value of INDIRA NAGAR 2nd 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 INDIRA NAGAR 2nd Street has changed

The guideline value for INDIRA NAGAR 2nd Street has undergone several revisions since 2002. The values started at Rs 289 per sq.ft in 2002, increased to Rs 320 per sq.ft in 2003, and saw a significant rise to Rs 500 per sq.ft in 2007. The value then jumped to Rs 2,500 per sq.ft in 2012, but decreased to Rs 1,675 per sq.ft in 2017. After that, the value increased to Rs 2,500 per sq.ft in 2023 and finally reached Rs 2,750 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 852%. The revisions for the years 2012, 2017, and 2023 show significant changes, with a 33% decrease from 2012 to 2017 and a 49% increase from 2017 to 2023. The register has no figures for any other years for this street.

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. The median value is Rs 4,400 per sq.ft, placing INDIRA NAGAR 2nd Street's 2024 figure below that median.

Stamp duty and registration fee for property in INDIRA NAGAR 2nd 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 amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers INDIRA NAGAR 2nd Street?

The INDIRA NAGAR 2nd 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 details.

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

The guideline value is a crucial factor in property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling a property. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with local regulations.

When a property is registered, the guideline value serves as a benchmark for calculating the necessary fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of INDIRA NAGAR 2nd Street?

The current guideline value of INDIRA NAGAR 2nd 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 significantly from Rs 289 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 852% over this period.

What are the other streets with the same guideline value in Virugambakkam?

Several other streets in Virugambakkam also have a guideline value of Rs 2,750 per sq.ft in 2024, including INDIRA NAGAR 2nd West Street and INDIRA NAGAR 1st Street, among others.

What are the fees associated with buying property in INDIRA NAGAR 2nd Street?

When buying property in INDIRA NAGAR 2nd Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 2,47,500.

Which office handles the registration for properties in INDIRA NAGAR 2nd Street?

The registration for properties in INDIRA NAGAR 2nd Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.