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Guideline Value

Corporate

Guideline Value for New Gandhi Nagar 1st Street

₹2750/sq.ft.

The guideline value for New Gandhi Nagar 1st Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 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

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹439 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹404 /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 New Gandhi Nagar 1st Street

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New Gandhi Nagar 1st Street guideline value

The current guideline value of New Gandhi Nagar 1st Street is Rs 2,750 per sq.ft. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of New Gandhi Nagar 1st Street has changed

The guideline value for New Gandhi Nagar 1st Street has seen several revisions over the years. In 2002, the value was Rs 404 per sq.ft, which increased to Rs 439 per sq.ft in 2003, marking a 9% increase. The value rose significantly to Rs 500 per sq.ft in 2007, representing a 14% increase. Following this, the guideline value surged to Rs 2,500 per sq.ft in 2012, a remarkable 400% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The value then increased to Rs 2,500 per sq.ft in 2023, and as of 1 July 2024, it stands at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register. Overall, from 2002 to 2024, the guideline value has increased by 581%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that the guideline value of New Gandhi Nagar 1st Street is below this median.

Stamp duty and registration fee for property in New Gandhi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees together Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Gandhi Nagar 1st Street?

The Sub Registrar Office covering New Gandhi Nagar 1st 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 Valasaravakkam

The guideline value is an essential factor in property transactions in Valasaravakkam. It serves as a reference point for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to determine the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of New Gandhi Nagar 1st Street?

The current guideline value of New Gandhi Nagar 1st Street is Rs 2,750 per sq.ft as of the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 404 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 581%.

What is the land classification for New Gandhi Nagar 1st Street?

New Gandhi Nagar 1st Street is classified as Residential Class IV Type - I.

Where is the Sub Registrar Office for this street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in New Gandhi Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,92,500 based on the current guideline value.