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Guideline Value

Corporate

Guideline Value for Sri Ram Nagar 5th Main Road

₹3300/sq.ft.

The guideline value for Sri Ram Nagar 5th Main Road 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 ₹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 5th Main Road

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Sri Ram Nagar 5th Main Road guideline value

The current guideline value of Sri Ram Nagar 5th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sri Ram Nagar 5th Main Road has changed

The guideline value for Sri Ram Nagar 5th Main Road has seen several revisions over the years. The earliest recorded value in 2002 was Rs 241 per sq.ft, which increased to Rs 262 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking a 91% increase. The value then saw a substantial jump to Rs 3,000 per sq.ft in 2012, reflecting a 500% increase from the previous revision. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33% from 2012.

In 2023, the guideline value increased to Rs 3,000 per sq.ft, and in the latest revision for 2024, it has risen to Rs 3,300 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1269%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the guideline value of Sri Ram Nagar 5th Main Road below the median.

Stamp duty and registration fee for property in Sri Ram Nagar 5th 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, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Nagar 5th Main Road?

The Sub Registrar Office that covers Sri Ram Nagar 5th 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 information.

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

The guideline value plays a crucial role when buying or selling property in Valasaravakkam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the higher of the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the state receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Sri Ram Nagar 5th Main Road?

The current guideline value of Sri Ram Nagar 5th 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 significantly from Rs 241 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1269% over the years.

What is the land classification for Sri Ram Nagar 5th Main Road?

The land classification for Sri Ram Nagar 5th Main Road is Residential Class II Type - II.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Where is the Sub Registrar Office located for this area?

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