Guideline Value

Corporate

Guideline Value for Veerappa Nagar 3rd Street

₹4950/sq.ft.

The guideline value for Veerappa Nagar 3rd Street in Valasaravakkam 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 I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - I
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 ₹650 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹467 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹429 /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 Veerappa Nagar 3rd Street

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Veerappa Nagar 3rd Street guideline value

The current guideline value of Veerappa Nagar 3rd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Veerappa Nagar 3rd Street has changed

The guideline value for Veerappa Nagar 3rd Street has undergone several changes since 2002. In 2002, the guideline value was Rs 429 per sq.ft, which increased to Rs 467 per sq.ft in 2003. Following this, there was a significant rise to Rs 650 per sq.ft in 2007, and then a remarkable jump to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. The value then saw an increase to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,950 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the rise from 2007 to 2012 was a substantial 592%. The increase from 2003 to 2007 was 39%, and from 2002 to 2003, it was 9%. Overall, from 2002 to 2024, the guideline value has increased by 1,054%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the 2024 figure for Veerappa Nagar 3rd Street above this median.

Stamp duty and registration fee for property in Veerappa Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total 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, bringing the total cost for these charges to Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerappa Nagar 3rd Street?

The Sub Registrar Office that covers Veerappa Nagar 3rd 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Veerappa Nagar 3rd Street?

The current guideline value of Veerappa Nagar 3rd 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 from Rs 429 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1,054% over the years.

What is the land classification for Veerappa Nagar 3rd Street?

Veerappa Nagar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500 in charges.

Where is the Sub Registrar Office for Veerappa Nagar 3rd Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Veerappa Nagar 3rd Street.