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Guideline Value

Corporate

Guideline Value for New Gandhi Nagar 2nd Street

₹2750/sq.ft.

The guideline value for New Gandhi Nagar 2nd 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 2nd Street

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New Gandhi Nagar 2nd Street guideline value

The current guideline value of New Gandhi Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of New Gandhi Nagar 2nd Street has changed

The guideline value for New Gandhi Nagar 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 404 per sq.ft. This increased to Rs 439 per sq.ft in 2003, followed by a rise to Rs 500 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and finally, the current value is Rs 2,750 per sq.ft as of the 2024 revision.

In terms of percentage changes, from 2002 to 2003, the increase was +9%. The value then rose by +14% from 2003 to 2007. The 2007 to 2012 period saw a substantial increase of +400%. However, from 2012 to 2017, there was a decrease of -33%. The value increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of +10%. 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 that carry 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, placing New Gandhi Nagar 2nd Street's current value below that median.

Stamp duty and registration fee for property in New Gandhi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is charged at 7%, which totals Rs 1,92,500, while the registration fee is charged at 2%, amounting to Rs 55,000. Therefore, the total cost for stamp duty and registration fee together is Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers New Gandhi Nagar 2nd Street?

The Sub Registrar Office that covers New Gandhi Nagar 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 Valasaravakkam

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is sold or purchased. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to have a clear understanding of the guideline value as it impacts the overall cost of buying or selling a property. This ensures that all legal requirements are met during the registration process.

Frequently asked questions

What is the current guideline value of New Gandhi Nagar 2nd Street?

The current guideline value of New Gandhi Nagar 2nd Street is Rs 2,750 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 404 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +581% over the years.

What is the land classification for New Gandhi Nagar 2nd Street?

The land classification for New Gandhi Nagar 2nd Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for New Gandhi Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000, and the stamp duty would be Rs 1,92,500.