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Guideline Value

Corporate

Guideline Value for INDIRA NAGAR 5th Cross Street

₹2750/sq.ft.

The guideline value for Indira Nagar 5th 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 5th Cross Street

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INDIRA NAGAR 5th Cross Street guideline value

The current guideline value of INDIRA NAGAR 5th Cross 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, and is classified as Residential Class IV Type - II.

How the guideline value of INDIRA NAGAR 5th Cross Street has changed

The guideline value for INDIRA NAGAR 5th Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, representing a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street, indicating that there were no recorded guideline values during those years. 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 guideline value in this area is Rs 4,400 per sq.ft, placing the guideline value of INDIRA NAGAR 5th Cross Street below this median.

Stamp duty and registration fee for property in INDIRA NAGAR 5th 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 would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost 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.

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

Which Sub Registrar Office covers INDIRA NAGAR 5th Cross Street?

The INDIRA NAGAR 5th Cross Street falls under 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 when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value of a property during registration, ensuring that the property is not undervalued. When a property is registered, the guideline value helps in calculating the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of INDIRA NAGAR 5th Cross Street?

The current guideline value of INDIRA NAGAR 5th Cross 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 a total increase of 450% over the years.

What is the land classification for INDIRA NAGAR 5th Cross Street?

INDIRA NAGAR 5th Cross Street is classified as Residential Class IV Type - II.

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

The Sub Registrar Office covering INDIRA NAGAR 5th Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Virugambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. 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%.