Guideline Value

Corporate

Guideline Value for Sivasankaran Street

₹3300/sq.ft.

The guideline value for Sivasankaran Street in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 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

Virugambakkam

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹427 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹385 /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 Sivasankaran Street

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Sivasankaran Street guideline value

The current guideline value of Sivasankaran Street is Rs 3,300 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 IV Type - I.

How the guideline value of Sivasankaran Street has changed

The guideline value for Sivasankaran Street has seen significant changes over the years. In 2002, the guideline value was Rs 385 per sq.ft. This figure increased to Rs 427 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped to Rs 750 per sq.ft, reflecting a 76% increase. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, a substantial 300% increase from 2007. However, in 2017, the value dropped to Rs 2,010 per sq.ft, which was a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, representing a 10% rise.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows a remarkable increase of 757% in the guideline value.

Guideline values in Virugambakkam

In Virugambakkam village, 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 for these streets is Rs 4,400 per sq.ft, placing Sivasankaran Street's 2024 figure below this median.

Stamp duty and registration fee for property in Sivasankaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivasankaran Street?

The Sivasankaran Street 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 Virugambakkam

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable duties and fees. It is essential to note that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivasankaran Street?

The current guideline value of Sivasankaran Street is Rs 3,300 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 385 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 757% over this period.

What is the land classification of Sivasankaran Street?

Sivasankaran Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

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 stamp duty calculated for properties in Sivasankaran Street?

Stamp duty for properties in Sivasankaran Street is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.