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Guideline Value

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Guideline Value for New Bangaru Naidu Colony 1st Street

₹4950/sq.ft.

The guideline value for New Bangaru Naidu Colony 1st Street in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1450 /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 New Bangaru Naidu Colony 1st Street

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New Bangaru Naidu Colony 1st Street guideline value

The current guideline value of New Bangaru Naidu Colony 1st Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of New Bangaru Naidu Colony 1st Street has changed

The guideline value for New Bangaru Naidu Colony 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,450 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. Following that, the value rose to Rs 4,500 per sq.ft in 2023, and currently, it stands at Rs 4,950 per sq.ft as of the 2024 revision. Notably, the revisions for the years 2002 and 2003 do not have any figures listed for this street.

From 2007 to 2012, the guideline value increased by 210%. However, it then decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and there was a further increase of 10% from 2023 to 2024. Overall, the guideline value has increased by 241% from 2007 to 2024.

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, making the 2024 figure for New Bangaru Naidu Colony 1st Street above the median.

Stamp duty and registration fee for property in New Bangaru Naidu Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers New Bangaru Naidu Colony 1st Street?

The New Bangaru Naidu Colony 1st 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 Virugambakkam

The guideline value is a crucial factor in property transactions in Virugambakkam, as it determines the minimum value at which properties can be registered. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value for New Bangaru Naidu Colony 1st Street?

The current guideline value for New Bangaru Naidu Colony 1st Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,450 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 241% over this period.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles registrations for New Bangaru Naidu Colony 1st Street?

The Virugambakkam Sub Registrar Office handles registrations for New Bangaru Naidu Colony 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration, impacting the calculation of stamp duty and registration fees during property transactions in Virugambakkam.