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Guideline Value

Corporate

Guideline Value for INDIRA NAGAR 2nd Cross Street

₹2750/sq.ft.

The guideline value for Indira Nagar 2nd Cross 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 Cross Street

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INDIRA NAGAR 2nd Cross Street guideline value

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

The guideline value for INDIRA NAGAR 2nd Cross 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% rise. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for this street in the revisions of 2002 and 2003. 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 with 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, indicating that the guideline value for INDIRA NAGAR 2nd Cross Street is below this median.

Stamp duty and registration fee for property in INDIRA NAGAR 2nd Cross 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, calculated at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The INDIRA NAGAR 2nd Cross Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that the guideline value is used to ensure that the correct fees are levied based on the property's value.

When a property is sold, the guideline value helps in assessing the fair value of the property for tax purposes. It is essential for both parties in a transaction to understand how this value impacts the overall costs associated with buying or selling property in the area.

Frequently asked questions

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

The current guideline value of INDIRA NAGAR 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 500 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 450% over the years.

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

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

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

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

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,750 per sq.ft results in a guideline value of Rs 27,50,000, leading to a stamp duty of Rs 1,92,500.