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Guideline Value

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Guideline Value for Sri Ram Nagar 2nd Cross Street

₹3300/sq.ft.

The guideline value for Sri Ram Nagar 2nd Cross 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 ₹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 Cross Street

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Sri Ram Nagar 2nd Cross Street guideline value

The current guideline value of Sri Ram Nagar 2nd Cross 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 falls under the Residential Class II Type - II land classification.

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

The guideline value for Sri Ram Nagar 2nd Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 241 per sq.ft, which increased to Rs 262 per sq.ft in 2003. The value saw a significant rise to Rs 500 per sq.ft in 2007, followed by a jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017 before increasing again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +9%, while the jump from 2003 to 2007 was +91%. The value surged by +500% from 2007 to 2012, but then saw a decrease of -33% from 2012 to 2017. The value rose by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects 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, placing the guideline value of Sri Ram Nagar 2nd Cross Street below this median.

Stamp duty and registration fee for property in Sri Ram Nagar 2nd Cross 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, making the total cost for these fees 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 information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ram Nagar 2nd Cross Street?

The Sub Registrar Office that covers Sri Ram Nagar 2nd Cross 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 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 stamp duty and registration fees applicable to the transaction, ensuring that these fees are calculated based on a standardized value set by the authorities.

Frequently asked questions

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

The current guideline value of Sri Ram Nagar 2nd Cross 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 significantly from Rs 241 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1269% over the years.

What is the land classification for Sri Ram Nagar 2nd Cross Street?

Sri Ram Nagar 2nd Cross Street falls under the Residential Class II Type - II land classification.

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

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

How is the stamp duty calculated for properties in this area?

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