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Guideline Value

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Guideline Value for PERIYAR NAGAR - Raman Street

₹3850/sq.ft.

The guideline value for Periyar Nagar - Raman 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 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹217 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹197 /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 Periyar Nagar - Raman Street

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PERIYAR NAGAR - Raman Street guideline value

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

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

The guideline value for PERIYAR NAGAR - Raman Street has seen several revisions over the years. In 2002, the value was Rs 197 per sq.ft, which increased to Rs 217 per sq.ft in 2003. The next significant revision occurred in 2007, where the value jumped to Rs 1,100 per sq.ft, marking an increase of 407%. Following that, in 2012, the value rose to Rs 3,500 per sq.ft, but then dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%.

In 2023, the guideline value was Rs 3,500 per sq.ft, and it saw an increase of 10% to reach the current value of Rs 3,850 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1854% 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 value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of PERIYAR NAGAR - Raman Street above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers PERIYAR NAGAR - Raman Street?

The Sub Registrar Office that covers PERIYAR NAGAR - Raman 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 Nesapakkam

The guideline value is an essential factor when registering property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of PERIYAR NAGAR - Raman 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 197 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting a significant increase over the years.

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

PERIYAR NAGAR - Raman Street is classified as Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for PERIYAR NAGAR - Raman 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 higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.