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Guideline Value

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Guideline Value for SRI VENKATESH NAGAR - Nehru Street

₹4950/sq.ft.

The guideline value for Sri Venkatesh Nagar - Nehru Street in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /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 Sri Venkatesh Nagar - Nehru Street

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SRI VENKATESH NAGAR - Nehru Street guideline value

The current guideline value for SRI VENKATESH NAGAR - Nehru Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of SRI VENKATESH NAGAR - Nehru Street has changed

The guideline value for SRI VENKATESH NAGAR - Nehru Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 1,100 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 309% rise. However, from 2012 to 2017, there was a decrease to Rs 3,015 per sq.ft, representing a drop of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and finally reached Rs 4,950 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Notably, there are no recorded figures for SRI VENKATESH NAGAR - Nehru Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing SRI VENKATESH NAGAR - Nehru Street above this median.

Stamp duty and registration fee for property in SRI VENKATESH NAGAR - Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, resulting in a total of Rs 4,45,500. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SRI VENKATESH NAGAR - Nehru Street?

The Sub Registrar Office that covers SRI VENKATESH NAGAR - Nehru 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 Virugambakkam

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as the minimum value for registration purposes, ensuring that properties are registered at a fair value as determined by the government. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value affects the stamp duty and registration fees payable. The fees are calculated based on the higher of the guideline value or the sale price, which means that understanding the guideline value is essential for accurate financial planning during property transactions in the area.

Frequently asked questions

What is the current guideline value for SRI VENKATESH NAGAR - Nehru Street?

The current guideline value for SRI VENKATESH NAGAR - Nehru Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 350% over this period.

What are the other streets in Virugambakkam with the same guideline value?

Other streets in Virugambakkam with the same guideline value of Rs 4,950 per sq.ft include SRI VENKATESH NAGAR - Munusamy Street, SRI VENKATESH NAGAR - Vinayagam Street, SRI VENKATESH NAGAR - Kambar Street, SRI VENKATESH NAGAR - Gandhi Street, and SRI VENKATESH NAGAR - Bakthavatchalam Street.

What is the stamp duty rate applicable in Virugambakkam?

The stamp duty rate applicable in Virugambakkam is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for SRI VENKATESH NAGAR - Nehru Street?

The Sub Registrar Office for SRI VENKATESH NAGAR - Nehru Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.