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Guideline Value

Corporate

Guideline Value for Sanjay Gandhi Nagar 2nd Street

₹3850/sq.ft.

The guideline value for Sanjay Gandhi Nagar 2nd 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 2nd Street

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Sanjay Gandhi Nagar 2nd Street guideline value

The current guideline value of Sanjay Gandhi Nagar 2nd Street is Rs 3,850 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 III Type - II.

How the guideline value of Sanjay Gandhi Nagar 2nd Street has changed

The guideline value for Sanjay Gandhi Nagar 2nd Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft following the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2012 to 2017 saw a decrease of 33%. The most significant increase occurred from 2007 to 2012, with a rise of 600%. Overall, from 2007 to 2024, the guideline value has increased by 670%. The register has no figures for the years 2002 and 2003 for this street.

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, indicating that the guideline value of Sanjay Gandhi Nagar 2nd Street is below this median.

Stamp duty and registration fee for property in Sanjay Gandhi Nagar 2nd 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 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 fee would be Rs 3,46,500. Note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sanjay Gandhi Nagar 2nd Street?

The Sub Registrar Office that covers Sanjay Gandhi Nagar 2nd 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 an important factor in property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected.

When you register a property, the guideline value serves as a baseline for calculating the fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which means that understanding the guideline value is crucial for financial planning during a property transaction.

Frequently asked questions

What is the current guideline value of Sanjay Gandhi Nagar 2nd Street?

The current guideline value of Sanjay Gandhi Nagar 2nd 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, reflecting an overall increase of 670% over the period.

What is the land classification for Sanjay Gandhi Nagar 2nd Street?

Sanjay Gandhi Nagar 2nd Street is classified as Residential Class III Type - II according to the local regulations.

Where can I find the Sub Registrar Office for this street?

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 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.