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Guideline Value

Corporate

Guideline Value for Sivasakthi Nagar 1st Cross Lane

₹2200/sq.ft.

The guideline value for Sivasakthi Nagar 1st Cross Lane 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 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹92 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹83 /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 Sivasakthi Nagar 1st Cross Lane

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Sivasakthi Nagar 1st Cross Lane guideline value

The current guideline value of Sivasakthi Nagar 1st Cross Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sivasakthi Nagar 1st Cross Lane has changed

The guideline value for Sivasakthi Nagar 1st Cross Lane has seen several revisions over the years. Starting from Rs 83 per sq.ft in 2002, the value increased to Rs 92 per sq.ft in 2003. The subsequent revision in 2007 saw a significant jump to Rs 350 per sq.ft, followed by a remarkable increase to Rs 2,000 per sq.ft in 2012. However, the value dropped to Rs 1,340 per sq.ft in 2017 before rising again to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft.

In terms of percentage changes, from 2002 to 2003, there was an increase of 11%. The revision from 2003 to 2007 saw a rise of 280%. The value then increased by 471% from 2007 to 2012, but experienced a decrease of 33% from 2012 to 2017. Following this, there was a 49% increase from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 2551%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Sivasakthi Nagar 1st Cross Lane.

Stamp duty and registration fee for property in Sivasakthi Nagar 1st Cross Lane

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

Which Sub Registrar Office covers Sivasakthi Nagar 1st Cross Lane?

The Sivasakthi Nagar 1st Cross Lane falls under the jurisdiction of 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 Nerkundram

The guideline value serves as a benchmark for property transactions in Nerkundram. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

It is important for buyers and sellers to be aware of the guideline value as it reflects the government's assessment of property worth in the area. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 1st Cross Lane?

The current guideline value of Sivasakthi Nagar 1st Cross Lane 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 changed significantly from Rs 83 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 2551% over the years.

What is the land classification for Sivasakthi Nagar 1st Cross Lane?

Sivasakthi Nagar 1st Cross Lane is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Sivasakthi Nagar 1st Cross Lane?

The Virugambakkam Sub Registrar Office handles registrations for Sivasakthi Nagar 1st Cross Lane, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.