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Guideline Value

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Guideline Value for New Bangaru Naidu Colony 2nd Street

₹4950/sq.ft.

The guideline value for New Bangaru Naidu Colony 2nd 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 2nd Street

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New Bangaru Naidu Colony 2nd Street guideline value

The current guideline value of New Bangaru Naidu Colony 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of New Bangaru Naidu Colony 2nd Street has changed

The guideline value for New Bangaru Naidu Colony 2nd 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, marking a rise of 210%. However, by 2017, the value decreased to Rs 3,015 per sq.ft, a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,950 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 241%. The changes between the revisions highlight the fluctuations in property valuation in this area, with the most significant increase occurring from 2012 to 2017, followed by a substantial rise in the recent revisions.

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 value is Rs 4,400 per sq.ft, making the 2024 guideline value of New Bangaru Naidu Colony 2nd Street above this median.

Stamp duty and registration fee for property in New Bangaru Naidu Colony 2nd 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, charged at 7%, would amount to Rs 3,46,500, and the registration fee, charged at 2%, would be Rs 99,000. Therefore, the total fees would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Bangaru Naidu Colony 2nd Street?

The Sub Registrar Office that covers New Bangaru Naidu Colony 2nd Street 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 plays a crucial role in property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is considered to ascertain the applicable fees. This ensures that the transaction is recorded accurately and transparently, reflecting the value of the property based on the latest revisions.

Frequently asked questions

What is the current guideline value of New Bangaru Naidu Colony 2nd Street?

The current guideline value of New Bangaru Naidu Colony 2nd 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, representing an overall increase of 241% over the years.

What are the stamp duty and registration fees for property 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 property registrations for New Bangaru Naidu Colony 2nd Street?

The Virugambakkam Sub Registrar Office handles property registrations for New Bangaru Naidu Colony 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for New Bangaru Naidu Colony 2nd Street?

The land classification for New Bangaru Naidu Colony 2nd Street is Residential Class II Type - II.