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Guideline Value

Corporate

Guideline Value for Sri Ram Avenue 2nd Street

₹3300/sq.ft.

The guideline value for Sri Ram Avenue 2nd 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 ₹1318 /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 2nd Street

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Sri Ram Avenue 2nd Street guideline value

The current guideline value of Sri Ram Avenue 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Sri Ram Avenue 2nd Street has changed

The guideline value for Sri Ram Avenue 2nd Street has seen significant changes 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 change of +9%. The value then surged to Rs 1,318 per sq.ft in 2007, reflecting a substantial increase of +301%. By 2012, the value remained at Rs 3,000 per sq.ft, and there was no figure recorded for the year 2017. The 2023 revision maintained the value at Rs 3,000 per sq.ft, before rising to Rs 3,300 per sq.ft in 2024, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +993%, highlighting the significant growth in this area over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with the median being Rs 3,850 per sq.ft. The guideline value of Sri Ram Avenue 2nd Street is below this median.

Stamp duty and registration fee for property in Sri Ram Avenue 2nd 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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.

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

Which Sub Registrar Office covers Sri Ram Avenue 2nd Street?

The Sri Ram Avenue 2nd 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 Valasaravakkam

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair price for the transaction, providing transparency and consistency in the registration process. Buyers and sellers should always refer to the latest guideline values to understand their obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sri Ram Avenue 2nd Street?

The current guideline value of Sri Ram Avenue 2nd 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% across the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Sri Ram Avenue 2nd Street?

The registration for Sri Ram Avenue 2nd Street is handled by the Virugambakkam Sub Registrar Office, 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 ensures that the government receives the appropriate revenue and provides a transparent basis for property valuations.