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Guideline Value

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Guideline Value for Sri Ram Nagar 2nd Main Road

₹3300/sq.ft.

The guideline value for Sri Ram Nagar 2nd Main Road in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. 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 N/A
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 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹262 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹241 /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 Nagar 2nd Main Road

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Sri Ram Nagar 2nd Main Road guideline value

The current guideline value of Sri Ram Nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Sri Ram Nagar 2nd Main Road has changed

The guideline value for Sri Ram Nagar 2nd Main Road has seen several revisions over the years. Starting from Rs 241 per sq.ft in 2002, the value increased to Rs 262 in 2003, marking a 9% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a significant increase of 91%. The 2012 revision brought the value to Rs 3,000 per sq.ft, a notable 500% increase from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, showing a decrease of 33%. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

There is no figure available for the 2023 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1269%, showcasing the changes in property valuation 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 a median value of Rs 3,850 per sq.ft. The guideline value of Sri Ram Nagar 2nd Main Road is below this median.

Stamp duty and registration fee for property in Sri Ram Nagar 2nd Main Road

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. Therefore, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Ram Nagar 2nd Main Road?

The Sub Registrar Office for Sri Ram Nagar 2nd Main Road 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When you approach the Sub Registrar Office for registration, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is officially recognized and that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar 2nd Main Road?

The current guideline value of Sri Ram Nagar 2nd Main Road 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 241 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 1269% over the years.

What is the land classification of Sri Ram Nagar 2nd Main Road?

Sri Ram Nagar 2nd Main Road is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Sri Ram Nagar 2nd Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Sri Ram Nagar 2nd Main Road?

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