Guideline Value

Corporate

Guideline Value for Jaibalaji Nagar

₹2750/sq.ft.

The guideline value for Jaibalaji Nagar 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 ₹217 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹196 /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 Jaibalaji Nagar

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Jaibalaji Nagar guideline value

The current guideline value of Jaibalaji Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This locality is situated 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 Jaibalaji Nagar has changed

Over the years, the guideline value of Jaibalaji Nagar has undergone several revisions. The earliest recorded figure is from 2002, which was Rs 196 per sq.ft. This increased to Rs 217 per sq.ft in 2003, marking an increase of approximately 11%. The value saw a significant rise to Rs 500 per sq.ft in 2007, which was a 130% increase. In 2012, the figure changed to Rs 2,500 per sq.ft, reflecting a substantial increase of 400% from the previous revision. However, this value decreased by 33% to Rs 1,675 per sq.ft in 2017. The guideline value then saw a notable increase to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,303%. There are no recorded figures for the revisions in years other than those specified.

Guideline values in Virugambakkam

In Virugambakkam village, 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 Jaibalaji Nagar's 2024 value below this median.

Stamp duty and registration fee for property in Jaibalaji Nagar

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

Which Sub Registrar Office covers Jaibalaji Nagar?

The Sub Registrar Office that covers Jaibalaji Nagar 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 when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar?

The current guideline value of Jaibalaji Nagar 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 seen several revisions, starting from Rs 196 per sq.ft in 2002 to the current value of Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,303% over this period.

What are the stamp duty and registration fees for property in Jaibalaji Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office manages Jaibalaji Nagar?

The Virugambakkam Sub Registrar Office manages Jaibalaji Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value affects property transactions by serving as the minimum value for registration. It is used to calculate stamp duty and registration fees, ensuring compliance with local regulations during property transfers.