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Guideline Value

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Guideline Value for PAZHANIYAPPA NAGAR - Vaigai Street

₹4950/sq.ft.

The guideline value for Pazhaniyappa Nagar - Vaigai Street in Valasaravakkam 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 I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - I
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 N/A
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹626 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹576 /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 Pazhaniyappa Nagar - Vaigai Street

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PAZHANIYAPPA NAGAR - Vaigai Street guideline value

The current guideline value of PAZHANIYAPPA NAGAR - Vaigai Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of PAZHANIYAPPA NAGAR - Vaigai Street has changed

The guideline value for PAZHANIYAPPA NAGAR - Vaigai Street has undergone several revisions over the years. Starting from the earliest available figure in 2002, the guideline value was Rs 576 per sq.ft, which increased to Rs 626 per sq.ft in 2003, marking a change of +9%. In 2007, the value surged to Rs 750 per sq.ft, reflecting a +20% increase. A significant jump occurred in 2012, where the value remained at Rs 4,500 per sq.ft, and this figure was unchanged until the 2023 revision.

In 2023, the guideline value was again set at Rs 4,500 per sq.ft, with no change from the previous revision. However, in 2024, the guideline value rose to Rs 4,950 per sq.ft, representing a +10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +759%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, placing PAZHANIYAPPA NAGAR - Vaigai Street's 2024 figure above this median.

Stamp duty and registration fee for property in PAZHANIYAPPA NAGAR - Vaigai 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, while the registration fee at 2% would be Rs 99,000. Therefore, the total cost for these fees would be Rs 4,45,500. It is important to note that 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 PAZHANIYAPPA NAGAR - Vaigai Street?

The PAZHANIYAPPA NAGAR - Vaigai Street falls under the jurisdiction of 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 a crucial factor in property transactions in Valasaravakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

Additionally, the guideline value helps in assessing the market dynamics of the area, providing a reference point for both buyers and sellers. It is essential to be aware of the current guideline value when engaging in property transactions to ensure compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of PAZHANIYAPPA NAGAR - Vaigai Street?

The current guideline value of PAZHANIYAPPA NAGAR - Vaigai 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 increased significantly from Rs 576 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of +759% over this period.

What is the land classification of PAZHANIYAPPA NAGAR - Vaigai Street?

PAZHANIYAPPA NAGAR - Vaigai Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for PAZHANIYAPPA NAGAR - Vaigai Street?

The Sub Registrar Office covering PAZHANIYAPPA NAGAR - Vaigai Street is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty would be calculated at 7% of this amount.