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Guideline Value

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Guideline Value for Sri Sai Nagar 5th Street

₹3850/sq.ft.

The guideline value for Sri Sai Nagar 5th 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 5th Street

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Sri Sai Nagar 5th Street guideline value

The current guideline value of Sri Sai Nagar 5th 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 5th Street has changed

Over the years, the guideline value for Sri Sai Nagar 5th Street has seen several revisions. Starting from the 2002 revision, the value was Rs 640 per sq.ft. This increased to Rs 711 per sq.ft in 2003, marking an 11% rise. The value then saw a significant jump to Rs 1,100 per sq.ft in 2007, which was a 55% increase. In 2012, the value was revised to Rs 3,500 per sq.ft, reflecting a substantial 218% increase from the previous revision. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,850 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 502%. The register has no figures for revisions in years other than those listed above.

Guideline values in Chenchery

In Chenchery village, there are a total of 44 streets under the Virugambakkam SRO that carry 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, placing the 2024 figure for Sri Sai Nagar 5th Street below this median.

Stamp duty and registration fee for property in Sri Sai Nagar 5th Street

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 together 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sai Nagar 5th Street?

The Sub Registrar Office that covers Sri Sai Nagar 5th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Chenchery. It serves as a benchmark for determining the minimum value at which property transactions can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer must pay stamp duty and registration fees calculated on the higher of the guideline value or the sale price. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Sai Nagar 5th Street?

The current guideline value of Sri Sai Nagar 5th 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 significantly from Rs 640 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 502% over this period.

What is the land classification for Sri Sai Nagar 5th Street?

Sri Sai Nagar 5th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

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

Which office handles property registrations for Sri Sai Nagar 5th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Sri Sai Nagar 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.