Guideline Value for Sanjay Gandhi Nagar

Sanjay Gandhi Nagar guideline value

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

How the guideline value of Sanjay Gandhi Nagar has changed

Over the years, the guideline value of Sanjay Gandhi Nagar has seen significant changes. The 2002 revision recorded a guideline value of Rs 257 per sq.ft, which increased to Rs 285 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a 75% increase. The 2012 revision saw the value rise to Rs 3,500 per sq.ft, a substantial 600% increase from the previous figure. However, in 2017, the value dropped to Rs 2,345 per sq.ft, indicating a decrease of 33%. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1398%. The register has no figures for the years not specifically mentioned in the revisions 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 guideline value in the area is Rs 4,400 per sq.ft, making Sanjay Gandhi Nagar's 2024 figure below that median.

• Sanjay Gandhi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sanjay Gandhi Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Sangareeshwari Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Sangareeshwari Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sangareeshwari Nagar 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjay Gandhi Nagar

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sanjay Gandhi Nagar?

The Sub Registrar Office that covers Sanjay Gandhi Nagar 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 details.

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

The guideline value plays a crucial role when buying or selling property in Virugambakkam. It is used to determine the stamp duty and registration fees payable during the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When registering a property, the guideline value is considered alongside the sale price, with the higher amount being used for calculating the applicable duties and fees. This ensures that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Sanjay Gandhi Nagar?

The current guideline value of Sanjay Gandhi Nagar 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 significantly, starting from Rs 257 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1398% over the years.

What are the stamp duty and registration fees for properties in Sanjay Gandhi Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, with a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Sanjay Gandhi Nagar?

The Virugambakkam Sub Registrar Office covers Sanjay Gandhi Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Sanjay Gandhi Nagar?

Sanjay Gandhi Nagar is classified as Residential Class III Type - II, which is important for understanding the permissible uses of the land in this area.