Guideline Value

Corporate

Guideline Value for PEOPLE FLATS (P.H.Road)

₹5500/sq.ft.

The guideline value for People Flats (p.h.road) in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Commercial Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹477 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹433 /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 People Flats (p.h.road)

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PEOPLE FLATS (P.H.Road) guideline value

The current guideline value for PEOPLE FLATS (P.H.Road) is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Commercial Special Type - I.

How the guideline value of PEOPLE FLATS (P.H.Road) has changed

The guideline value for PEOPLE FLATS (P.H.Road) has seen several revisions over the years. In 2002, the value was Rs 433 per sq.ft, which increased to Rs 477 per sq.ft in 2003. Following that, there was a significant rise to Rs 900 per sq.ft in 2007, and then it surged to Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017 before climbing again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 1,170% from 2002 to 2024. The changes between the revisions include a 456% increase from 2007 to 2012, a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. The register does not have figures for any other years for this street.

Guideline values in Nerkundram

Nerkundram village has 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as of 2024. The median value for these streets is Rs 2,200 per sq.ft, placing PEOPLE FLATS (P.H.Road) above this median.

Stamp duty and registration fee for property in PEOPLE FLATS (P.H.Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers PEOPLE FLATS (P.H.Road)?

The Sub Registrar Office that covers PEOPLE FLATS (P.H.Road) 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 Nerkundram

The guideline value plays a crucial role during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller registers a property, the guideline value is used to calculate the applicable duties, ensuring that the transaction complies with local regulations. This value is essential for both parties to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for PEOPLE FLATS (P.H.Road)?

The current guideline value for PEOPLE FLATS (P.H.Road) is Rs 5,500 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 433 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1,170% over this period.

What is the land classification for PEOPLE FLATS (P.H.Road)?

PEOPLE FLATS (P.H.Road) is classified as Commercial Special Type - I, indicating its specific use and regulatory framework.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office located for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers PEOPLE FLATS (P.H.Road).