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Guideline Value

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Guideline Value for MEENAKSHI AMMAN NAGAR - Gandhi Street

₹2200/sq.ft.

The guideline value for Meenakshi Amman Nagar - Gandhi Street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /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 Meenakshi Amman Nagar - Gandhi Street

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MEENAKSHI AMMAN NAGAR - Gandhi Street guideline value

The current guideline value for MEENAKSHI AMMAN NAGAR - Gandhi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of MEENAKSHI AMMAN NAGAR - Gandhi Street has changed

The guideline value for MEENAKSHI AMMAN NAGAR - Gandhi Street has seen significant changes over the years. In 2007, the guideline value was Rs 350 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 471%. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The value then rose to Rs 2,000 per sq.ft in 2023, an increase of 49%, and further increased by 10% to the current rate of Rs 2,200 per sq.ft in 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current guideline value for MEENAKSHI AMMAN NAGAR - Gandhi Street.

Stamp duty and registration fee for property in MEENAKSHI AMMAN NAGAR - Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers MEENAKSHI AMMAN NAGAR - Gandhi Street?

MEENAKSHI AMMAN NAGAR - Gandhi Street is covered by 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 Nerkundram

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government regulations.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for MEENAKSHI AMMAN NAGAR - Gandhi Street?

The current guideline value for MEENAKSHI AMMAN NAGAR - Gandhi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 350 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 529% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

MEENAKSHI AMMAN NAGAR - Gandhi Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Nerkundram?

The guideline value is determined by the government and is based on various factors, including land classification and market conditions. It serves as a minimum value for property registration in the area.