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Guideline Value

Corporate

Guideline Value for Sri Venkatesh Nagar - Gandhi Street

₹4950/sq.ft.

The guideline value for Sri Venkatesh Nagar - Gandhi Street in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 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

Virugambakkam

Village

Virugambakkam

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Venkatesh Nagar - Gandhi Street

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Sri Venkatesh Nagar - Gandhi Street guideline value

The current guideline value of Sri Venkatesh Nagar - Gandhi Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sri Venkatesh Nagar - Gandhi Street has changed

The guideline value for Sri Venkatesh Nagar - Gandhi Street has undergone several revisions since 2007. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 309%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. Following this, the value saw a substantial increase to Rs 4,500 per sq.ft in 2023, and further to Rs 4,950 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002 and 2003.

From 2017 to 2023, the guideline value rose by 49%, and overall, from 2007 to 2024, it has increased by 350%. The 2024 figure of Rs 4,950 per sq.ft is above the median guideline value of Rs 4,400 per sq.ft for the 391 streets in Virugambakkam under the Virugambakkam SRO.

Guideline values in Virugambakkam

In Virugambakkam, the guideline values range from Rs 2,750 to Rs 13,200 per sq.ft, with a median of Rs 4,400 per sq.ft. Sri Venkatesh Nagar - Gandhi Street's 2024 guideline value of Rs 4,950 per sq.ft is above this median.

Stamp duty and registration fee for property in Sri Venkatesh Nagar - Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Venkatesh Nagar - Gandhi Street?

The Sub Registrar Office that covers Sri Venkatesh Nagar - Gandhi 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 Virugambakkam

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

Additionally, the guideline value is regularly updated to reflect changes in the market and local conditions. It is essential for buyers and sellers to stay informed about the latest revisions to ensure compliance with legal requirements during property transactions in Virugambakkam.

Frequently asked questions

What is the current guideline value of Sri Venkatesh Nagar - Gandhi Street?

The current guideline value of Sri Venkatesh Nagar - Gandhi Street is Rs 4,950 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 1,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What is the land classification of Sri Venkatesh Nagar - Gandhi Street?

Sri Venkatesh Nagar - Gandhi Street is classified as Residential Class II Type - II.

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

The Sub Registrar Office covering Sri Venkatesh Nagar - Gandhi Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Virugambakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at 7%.