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Guideline Value

Corporate

Guideline Value for Sri Ram Avenue 1st Street

₹3300/sq.ft.

The guideline value for Sri Ram Avenue 1st Street in Valasaravakkam 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 Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class II Type - II
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 N/A
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹329 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹302 /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 Sri Ram Avenue 1st Street

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Sri Ram Avenue 1st Street guideline value

The current guideline value for Sri Ram Avenue 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Sri Ram Avenue 1st Street has changed

The guideline value for Sri Ram Avenue 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 302 per sq.ft, which increased to Rs 329 per sq.ft in 2003, marking a 9% increase. The value saw a significant jump to Rs 500 per sq.ft in 2007, reflecting a 52% rise. The next revision in 2012 maintained the value at Rs 3,000 per sq.ft, showing no change from the previous figure. In 2023, the value remained at Rs 3,000 per sq.ft, but in 2024, it was revised to Rs 3,300 per sq.ft, marking a 10% increase.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 993%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft as per the 2024 revision. The median guideline value for the village is Rs 3,850 per sq.ft, placing the current guideline value of Sri Ram Avenue 1st Street below this median.

Stamp duty and registration fee for property in Sri Ram Avenue 1st 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 to Rs 2,97,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Sri Ram Avenue 1st Street?

The Sub Registrar Office that covers Sri Ram Avenue 1st 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 Valasaravakkam

The guideline value is a critical factor in property transactions in Valasaravakkam. When buying or selling property, the guideline value serves as a benchmark for determining the stamp duty and registration fees. This ensures that both buyers and sellers are aware of the minimum value assigned to the property by the government.

During the registration process, the guideline value is used to calculate the applicable fees, which are mandatory. It is essential for buyers to be aware of the guideline value to understand their financial obligations when completing a property transaction.

Frequently asked questions

What is the current guideline value of Sri Ram Avenue 1st Street?

The current guideline value of Sri Ram Avenue 1st 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 from Rs 302 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 993% over the years.

What are the stamp duty rates for properties in Sri Ram Avenue 1st Street?

The stamp duty for properties in Sri Ram Avenue 1st Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Sri Ram Avenue 1st Street?

The Virugambakkam Sub Registrar Office handles property registrations for Sri Ram Avenue 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for the minimum value assigned to the property by the government.