Guideline Value

Corporate

Guideline Value for NETHAJI AVENUE Main Road

₹3050/sq.ft.

The guideline value for Nethaji Avenue Main Road in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 3050 per sq.ft, effective 1 July 2024. It was Rs 2750 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3050 /sq.ft.
From 1-4-2023 ₹2750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1842 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2750 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹286 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹259 /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]

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NETHAJI AVENUE Main Road guideline value

The current guideline value of NETHAJI AVENUE Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of NETHAJI AVENUE Main Road has changed

The guideline value for NETHAJI AVENUE Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 259 per sq.ft. This increased to Rs 286 per sq.ft in 2003, marking a 10% rise. The value continued to rise to Rs 400 per sq.ft in 2007, which was a 40% increase. The next major jump occurred in 2012, where the value reached Rs 2,750 per sq.ft, reflecting a remarkable 588% increase from 2007. However, it then decreased to Rs 1,842 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 2,750 per sq.ft, which is a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,050 per sq.ft, representing an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,078%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for NETHAJI AVENUE Main Road exceeds this median.

Stamp duty and registration fee for property in NETHAJI AVENUE Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value amounts to Rs 30,50,000. The stamp duty at 7% would be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, totaling Rs 2,74,500. It is important to note that 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 NETHAJI AVENUE Main Road?

The NETHAJI AVENUE Main Road 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 Nerkundram

The guideline value is a crucial factor in property transactions in Nerkundram. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for tax purposes.

During the registration process, the stamp duty and registration fees are calculated 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 of NETHAJI AVENUE Main Road?

The current guideline value of NETHAJI AVENUE Main Road is Rs 3,050 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 259 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1,078%.

What is the land classification for NETHAJI AVENUE Main Road?

NETHAJI AVENUE Main Road is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in NETHAJI AVENUE Main Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,74,500.

Which office handles registrations for NETHAJI AVENUE Main Road?

The Virugambakkam Sub Registrar Office handles registrations for NETHAJI AVENUE Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.