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Guideline Value

Corporate

Guideline Value for Sri Sai Nagar 1st Main Road

₹3850/sq.ft.

The guideline value for Sri Sai Nagar 1st Main Road in Chenchery village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chenchery

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1110 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹711 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹640 /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 Sai Nagar 1st Main Road

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Sri Sai Nagar 1st Main Road guideline value

The current guideline value of Sri Sai Nagar 1st Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chenchery village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Sai Nagar 1st Main Road has changed

The guideline value for Sri Sai Nagar 1st Main Road has undergone several revisions over the years. In the 2002 revision, the value was set at Rs 640 per sq.ft. This increased to Rs 711 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,110 per sq.ft in 2007, which was a significant increase of 56%. Following this, the 2012 revision saw the value drop to Rs 3,500 per sq.ft, a decrease of 215% from the previous figure. The guideline value then increased to Rs 2,345 per sq.ft in 2017, reflecting a rise of 49%.

In the 2023 revision, the value was set at Rs 3,500 per sq.ft, and the most recent revision in 2024 increased it to Rs 3,850 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 502%. There are no figures available for any other revisions for this street.

Guideline values in Chenchery

In Chenchery, there are 44 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,700 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Sri Sai Nagar 1st Main Road is below this median.

Stamp duty and registration fee for property in Sri Sai Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Nagar 1st Main Road?

The Sub Registrar Office that covers Sri Sai Nagar 1st 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 Chenchery

The guideline value plays a crucial role in the registration process when buying or selling property in Chenchery. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in the accurate calculation of the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar 1st Main Road?

The current guideline value of Sri Sai Nagar 1st Main Road is Rs 3,850 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 640 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 502% over this period.

What are the stamp duty and registration fees for property in Sri Sai Nagar 1st Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty at 7% is Rs 2,69,500, and the registration fee at 2% is Rs 77,000, totaling Rs 3,46,500 for these fees.

Which Sub Registrar Office covers Sri Sai Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office covers Sri Sai Nagar 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Sri Sai Nagar 1st Main Road?

Sri Sai Nagar 1st Main Road is classified as Residential Class II Type - I, indicating its designation for residential use within the locality.