Guideline Value

Corporate

Guideline Value for Velmurugan Street

₹3850/sq.ft.

The guideline value for Velmurugan Street in Valasaravakkam 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

Valasaravakkam

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 N/A
From 1-4-2003 To 31-7-2007 ₹393 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹361 /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 Velmurugan Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Velmurugan Street guideline value

The current guideline value of Velmurugan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Velmurugan Street has changed

The guideline value of Velmurugan Street has seen several revisions over the years. In 2002, the guideline value was Rs 361 per sq.ft, which increased to Rs 393 per sq.ft in 2003, marking a 9% increase. There is no figure available for the year 2007. The value then rose to Rs 3,500 per sq.ft in 2012, but this was a decrease of 33% from the previous revision. The guideline value increased again to Rs 2,345 per sq.ft in 2017, reflecting a 49% increase from 2012. The most recent revision in 2023 set the value at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 966%, showcasing significant growth over the years. The current figure of Rs 3,850 per sq.ft aligns with the median guideline value for Valasaravakkam streets in 2024.

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 guideline value is Rs 3,850 per sq.ft, which is the same as the current value for Velmurugan Street. Here are some other streets in Valasaravakkam:

Stamp duty and registration fee for property in Velmurugan 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 at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees 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 use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Velmurugan Street?

The Sub Registrar Office that covers Velmurugan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that both parties are clear on the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Velmurugan Street?

The current guideline value of Velmurugan 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 361 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 966% over the years.

What are the stamp duty rates for properties in Velmurugan Street?

The stamp duty for properties in Velmurugan Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Velmurugan Street?

The Sub Registrar Office for Velmurugan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, which is the same as the current guideline value for Velmurugan Street.