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Guideline Value

Corporate

Guideline Value for INDIRA NAGAR 2nd West Street

₹2750/sq.ft.

The guideline value for Indira Nagar 2nd 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 2nd West Street

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INDIRA NAGAR 2nd West Street guideline value

The current guideline value of INDIRA NAGAR 2nd West Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of INDIRA NAGAR 2nd West Street has changed

The guideline value for INDIRA NAGAR 2nd West Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 400% increase. However, it then decreased to Rs 1,675 per sq.ft in the 2017 revision, a reduction of 33%. The value rose again to Rs 2,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% change from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

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 for these streets is Rs 4,400 per sq.ft, placing INDIRA NAGAR 2nd West Street's 2024 figure below this median.

Stamp duty and registration fee for property in INDIRA NAGAR 2nd West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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 fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers INDIRA NAGAR 2nd West Street?

The Sub Registrar Office that covers INDIRA NAGAR 2nd 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 information.

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 when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during the registration process.

When registering a property, the guideline value serves as a benchmark for calculating various charges. It is essential for both parties in a transaction to understand that the stamp duty is assessed on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of INDIRA NAGAR 2nd 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 increased from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What is the land classification for INDIRA NAGAR 2nd West Street?

INDIRA NAGAR 2nd West Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for INDIRA NAGAR 2nd West Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.