Guideline Value

Corporate

Guideline Value for SRI JANAKI AVENUE

₹2200/sq.ft.

The guideline value for Sri Janaki Avenue in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹298 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹270 /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 Sri Janaki Avenue

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Sri Janaki Avenue guideline value

The current guideline value of Sri Janaki Avenue, located in Nerkundram village under the Virugambakkam SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class IV Type - I land classification.

How the guideline value of Sri Janaki Avenue has changed

Over the years, the guideline value for Sri Janaki Avenue has seen significant changes. In 2002, the guideline value was Rs 270 per sq.ft. This increased to Rs 298 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting a 34% increase from the previous revision. The value then jumped to Rs 2,000 per sq.ft in 2012, which was a substantial 400% increase from 2007. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017, a decline of 33%.

The most recent revisions show a steady increase. The guideline value rose to Rs 2,000 per sq.ft in 2023, followed by a 10% increase to the current value of Rs 2,200 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 715%.

Guideline values in Nerkundram

Nerkundram village has a range of guideline values across its 476 streets under the Virugambakkam SRO. The 2024 figures range from Rs 1,650 to Rs 6,600 per sq.ft, with the median value being Rs 2,200 per sq.ft. Sri Janaki Avenue's current guideline value aligns with this median.

Stamp duty and registration fee for property in Sri Janaki Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Janaki Avenue?

Sri Janaki Avenue falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To locate your nearest SRO, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sri Janaki Avenue?

The current guideline value of Sri Janaki Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 270 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 715% over this period.

What is the stamp duty rate for properties in Sri Janaki Avenue?

The stamp duty rate for properties in Sri Janaki Avenue is 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for a property and to calculate the applicable stamp duty and registration fees during a transaction.