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Guideline Value

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Guideline Value for SHAIK ABDULLA NAGAR - Gangai Street

₹2750/sq.ft.

The guideline value for Shaik Abdulla Nagar - Gangai Street in Virugambakkam 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 - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class IV Type - II
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 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 Shaik Abdulla Nagar - Gangai Street

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SHAIK ABDULLA NAGAR - Gangai Street guideline value

The current guideline value of SHAIK ABDULLA NAGAR - Gangai Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of SHAIK ABDULLA NAGAR - Gangai Street has changed

The guideline value for SHAIK ABDULLA NAGAR - Gangai Street has seen several revisions over the years. Starting from Rs 500 per sq.ft in 2007, it increased significantly to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The value then rose again to Rs 2,500 per sq.ft in 2023, and is currently set at Rs 2,750 per sq.ft as of the 2024 revision. Notably, there are no registered figures for this street in 2002 and 2003.

Between the revisions, the changes are as follows: from 2007 to 2012, the value increased by 400%, but then it decreased by 33% from 2012 to 2017. Following that, there was a significant increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for SHAIK ABDULLA NAGAR - Gangai Street is below this median.

Stamp duty and registration fee for property in SHAIK ABDULLA NAGAR - Gangai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that the 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 SHAIK ABDULLA NAGAR - Gangai Street?

SHAIK ABDULLA NAGAR - Gangai 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 Virugambakkam

The guideline value plays a crucial role in the registration process of property transactions in Virugambakkam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of SHAIK ABDULLA NAGAR - Gangai Street?

The current guideline value of SHAIK ABDULLA NAGAR - Gangai 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 from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for SHAIK ABDULLA NAGAR - Gangai Street?

SHAIK ABDULLA NAGAR - Gangai Street is classified as Residential Class IV Type - II.

Where can I find the relevant Sub Registrar Office?

The relevant Sub Registrar Office for SHAIK ABDULLA NAGAR - Gangai Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Virugambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 27,50,000, the stamp duty would be calculated at 7% of that amount.