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Guideline Value

Corporate

Guideline Value for Sri Sai Nagar 2nd Main Road

₹3850/sq.ft.

The guideline value for Sri Sai Nagar 2nd 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 ₹900 /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 2nd Main Road

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Sri Sai Nagar 2nd Main Road guideline value

The current guideline value of Sri Sai Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Chenchery village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Sri Sai Nagar 2nd Main Road has undergone several revisions over the years. Starting from the earliest available figure in 2002, the value was Rs 640 per sq.ft. This increased to Rs 711 per sq.ft in 2003, marking an 11% rise. By 2007, the value saw a significant jump to Rs 900 per sq.ft, which is a 27% increase. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, reflecting a 289% increase from the previous revision.

In 2017, the guideline value decreased to Rs 2,345 per sq.ft, a decline of 33%. However, the following revisions saw a substantial increase, with the value rising to Rs 3,500 per sq.ft in 2023, and then to the current figure of Rs 3,850 per sq.ft in 2024, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 502%.

Guideline values in Chenchery

In Chenchery village, there are 44 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing the 2024 guideline value of Sri Sai Nagar 2nd Main Road below this median.

Stamp duty and registration fee for property in Sri Sai Nagar 2nd 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 would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be 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 on calculating fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Sri Sai Nagar 2nd Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more details, you can find your SRO.

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 serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is assessed fairly based on the prevailing rates in the area.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of Sri Sai Nagar 2nd 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 from Rs 640 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 502% over the years.

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

The land classification for Sri Sai Nagar 2nd Main Road is Residential Class II Type - I.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

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

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