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Guideline Value

Corporate

Guideline Value for Sanjay Gandhi Nagar 1st Street

₹3850/sq.ft.

The guideline value for Sanjay Gandhi Nagar 1st Street in Virugambakkam 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 Iii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class III Type - II
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 ₹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 Sanjay Gandhi Nagar 1st Street

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Sanjay Gandhi Nagar 1st Street guideline value

The current guideline value of Sanjay Gandhi Nagar 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Sanjay Gandhi Nagar 1st Street has changed

The guideline value for Sanjay Gandhi Nagar 1st Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which saw a significant increase to Rs 3,500 per sq.ft in 2012, marking a rise of 600%. However, it decreased to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, and further to Rs 3,850 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 670%.

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 among these streets is Rs 4,400 per sq.ft, indicating that the 2024 guideline value for Sanjay Gandhi Nagar 1st Street is below this median.

Stamp duty and registration fee for property in Sanjay Gandhi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty, charged at 7%, would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fees would be Rs 3,46,500. 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 accurate calculations.

Which Sub Registrar Office covers Sanjay Gandhi Nagar 1st Street?

The Sub Registrar Office that covers Sanjay Gandhi Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For further details, you can find your SRO.

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 a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

At the time of registration, the authorities will refer to the guideline value to assess the property's worth. This ensures transparency and fairness in the registration process, as the guideline value reflects the current market conditions and property classifications.

Frequently asked questions

What is the current guideline value for Sanjay Gandhi Nagar 1st Street?

The current guideline value for Sanjay Gandhi Nagar 1st 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 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 670% over the years.

What is the land classification for Sanjay Gandhi Nagar 1st Street?

The land classification for Sanjay Gandhi Nagar 1st Street is Residential Class III Type - II.

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 stamp duty calculated for properties in Sanjay Gandhi Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500 based on the current guideline value.