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Guideline Value

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Guideline Value for PERIYAR NAGAR - Raman Cross Street

₹3850/sq.ft.

The guideline value for Periyar Nagar - Raman Cross Street in Nesapakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 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

Nesapakkam

Village

Virugambakkam

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
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 Periyar Nagar - Raman Cross Street

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PERIYAR NAGAR - Raman Cross Street guideline value

The current guideline value of PERIYAR NAGAR - Raman Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of PERIYAR NAGAR - Raman Cross Street has changed

The guideline value for PERIYAR NAGAR - Raman Cross Street has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 3,500 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 2,345 per sq.ft, marking a decline of 33%. The subsequent revision in 2023 saw a significant increase to Rs 3,500 per sq.ft, and the latest revision in 2024 further raised it to Rs 3,850 per sq.ft, reflecting a 10% increase.

In summary, the guideline value increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, which is a total increase of 49% over this period. Overall, comparing the 2012 figure to the 2024 figure shows a 10% increase, with no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 figure for PERIYAR NAGAR - Raman Cross Street above this median.

Stamp duty and registration fee for property in PERIYAR NAGAR - Raman Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty is calculated at 7%, resulting in Rs 2,69,500, while the registration fee at 2% amounts to Rs 77,000. The total fee payable would be Rs 3,46,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers PERIYAR NAGAR - Raman Cross Street?

The Sub Registrar Office that covers PERIYAR NAGAR - Raman Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For further assistance, you can find your SRO.

How the guideline value is used when you buy or sell in Nesapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must refer to the guideline value to calculate the applicable fees. This value is essential for ensuring compliance with local regulations and for the accurate assessment of property transactions.

Frequently asked questions

What is the current guideline value of PERIYAR NAGAR - Raman Cross Street?

The current guideline value of PERIYAR NAGAR - Raman Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for PERIYAR NAGAR - Raman Cross Street?

The land classification for PERIYAR NAGAR - Raman Cross Street is Residential Class I Type - I, indicating its suitability for residential development.

What is the stamp duty rate applicable in this area?

The stamp duty rate applicable in this area is 7%, which is calculated based on the higher of the guideline value or the sale price of the property.

Which office handles property registration for this street?

The Virugambakkam Sub Registrar Office handles property registration for PERIYAR NAGAR - Raman Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.