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Guideline Value

Corporate

Guideline Value for Sri Sai Nagar 2nd Street

₹3850/sq.ft.

The guideline value for Sri Sai Nagar 2nd Street 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 ₹1100 /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 Street

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Sri Sai Nagar 2nd Street guideline value

The current guideline value of Sri Sai Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street 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 Street has changed

The guideline value for Sri Sai Nagar 2nd Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 640 per sq.ft. It increased to Rs 711 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly, reaching Rs 1,100 per sq.ft in 2007, which was a 55% increase. The 2012 revision showed a substantial jump to Rs 3,500 per sq.ft, reflecting a 218% increase from the previous figure. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33% from 2012. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, and the most recent 2024 revision set it at Rs 3,850 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 502%. It is important to note that the register has no figures for the years not mentioned in the revisions.

Guideline values in Chenchery

In Chenchery, there are 44 streets under the Virugambakkam SRO with a 2024 guideline value 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, indicating that the 2024 figure for Sri Sai Nagar 2nd Street is below this median.

Stamp duty and registration fee for property in Sri Sai Nagar 2nd Street

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, charged at 7%, would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that 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 Sai Nagar 2nd Street?

The Sub Registrar Office that covers Sri Sai Nagar 2nd 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 Chenchery

The guideline value plays a crucial role during the registration of property transactions in Chenchery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

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

The current guideline value of Sri Sai Nagar 2nd Street 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 this period.

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

Sri Sai Nagar 2nd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers this area?

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