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Guideline Value

Corporate

Guideline Value for INDIRA NAGAR 1st West Street

₹2750/sq.ft.

The guideline value for Indira Nagar 1st West 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 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 Indira Nagar 1st West Street

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INDIRA NAGAR 1st West Street guideline value

The current guideline value of INDIRA NAGAR 1st West 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 1st West Street has changed

The guideline value for INDIRA NAGAR 1st West Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, a reduction of 33% from the previous revision.

From 2017 to 2023, the guideline value rose sharply to Rs 2,500 per sq.ft, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from the 2023 figure. The register has no figures for the years 2002 and 2003 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, with a median value of Rs 4,400 per sq.ft. The guideline value for INDIRA NAGAR 1st West Street is below this median.

Stamp duty and registration fee for property in INDIRA NAGAR 1st West Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers INDIRA NAGAR 1st West Street?

The Sub Registrar Office covering INDIRA NAGAR 1st West Street is 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 minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers should be aware that the stamp duty and registration fees will be calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of INDIRA NAGAR 1st West Street?

The current guideline value of INDIRA NAGAR 1st West 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 from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 450% over the years.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

Which office handles property registrations for INDIRA NAGAR 1st West Street?

The Virugambakkam Sub Registrar Office handles property registrations for INDIRA NAGAR 1st West Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for INDIRA NAGAR 1st West Street?

INDIRA NAGAR 1st West Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.