Guideline Value

Corporate

Guideline Value for Sornambigai Nagar

₹4950/sq.ft.

The guideline value for Sornambigai Nagar in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹500 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹270 /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 Sornambigai Nagar

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Sornambigai Nagar guideline value

The current guideline value of Sornambigai Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sornambigai Nagar has changed

The guideline value of Sornambigai Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 270 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking an increase of 85%. The 2007 revision saw a significant jump to Rs 1,100 per sq.ft, reflecting a 120% increase. However, the value decreased to Rs 4,500 per sq.ft in the 2012 revision, a drop of 33%. In 2017, the value rose again to Rs 3,015 per sq.ft, which was a 49% increase from the previous year. The 2023 revision set the guideline value at Rs 4,500 per sq.ft, and the latest 2024 revision has increased it to Rs 4,950 per sq.ft, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,733%. There are no figures for the revisions of 2012 and 2017 specifically 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 is Rs 4,400 per sq.ft, placing Sornambigai Nagar's 2024 figure above this median.

Stamp duty and registration fee for property in Sornambigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total fees Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sornambigai Nagar?

The Sub Registrar Office that covers Sornambigai 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 information.

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

The guideline value is a critical factor during property registration in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid penalties during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value, which is crucial for funding public services and infrastructure.

Frequently asked questions

What is the current guideline value of Sornambigai Nagar?

The current guideline value of Sornambigai Nagar is Rs 4,950 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 270 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1,733% over this period.

What are the other guideline values in Virugambakkam?

Other streets in Virugambakkam have varying guideline values, with the 2024 figures ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft.

How is stamp duty calculated in Sornambigai Nagar?

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 at the current rate, the stamp duty would be Rs 3,46,500.

Where can I find the Sub Registrar Office for Sornambigai Nagar?

The Sub Registrar Office for Sornambigai Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.