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Guideline Value

Corporate

Guideline Value for Lampart Nagar 2nd Main Road

₹5500/sq.ft.

The guideline value for Lampart Nagar 2nd Main Road in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹1055 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹953 /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 Lampart Nagar 2nd Main Road

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Lampart Nagar 2nd Main Road guideline value

The current guideline value of Lampart Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Lampart Nagar 2nd Main Road has changed

The guideline value for Lampart Nagar 2nd Main Road has seen several revisions over the years. The earliest recorded figure is from 2002, at Rs 953 per sq.ft. This increased to Rs 1,055 per sq.ft in 2003, marking an 11% rise. The value then saw a modest increase of 4% to Rs 1,100 per sq.ft in 2007. A significant jump occurred in 2012, where the value rose to Rs 5,000 per sq.ft, a 355% increase. However, this was followed by a decrease of 33% in 2017, bringing the value down to Rs 3,350 per sq.ft. The 2023 revision saw another increase to Rs 5,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in years other than those specified. Overall, from 2002 to 2024, the guideline value has increased by 477%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Lampart Nagar 2nd Main Road above this median.

Stamp duty and registration fee for property in Lampart Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lampart Nagar 2nd Main Road?

The Sub Registrar Office covering Lampart Nagar 2nd Main Road 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 during the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Lampart Nagar 2nd Main Road?

The current guideline value of Lampart Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 953 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 477%.

What are the stamp duty and registration fees for property in Lampart Nagar 2nd Main Road?

For a 1,000 sq.ft plot, the total guideline value would be Rs 55,00,000, leading to a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Lampart Nagar 2nd Main Road?

The Virugambakkam Sub Registrar Office covers Lampart Nagar 2nd Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, with Lampart Nagar 2nd Main Road's value of Rs 5,500 per sq.ft being above this median.