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Guideline Value

Corporate

Guideline Value for Venkatesh Nagar 1st Main Road

₹4950/sq.ft.

The guideline value for Venkatesh Nagar 1st Main Road in Saligramam 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

Saligramam

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 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹725 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹664 /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 Venkatesh Nagar 1st Main Road

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Venkatesh Nagar 1st Main Road guideline value

The current guideline value of Venkatesh Nagar 1st Main Road is Rs 4,950 per sq.ft. This road is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkatesh Nagar 1st Main Road has changed

The guideline value for Venkatesh Nagar 1st Main Road has seen several revisions over the years. In 2002, the value was Rs 664 per sq.ft, which increased to Rs 725 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 1,100 per sq.ft in 2007, resulting in a +52% increase. Following that, the value jumped to Rs 4,500 per sq.ft in 2012, reflecting a remarkable +309% change. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of -33%. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,950 per sq.ft in 2024, a rise of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +645%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Venkatesh Nagar 1st Main Road is above this median.

Stamp duty and registration fee for property in Venkatesh Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Venkatesh Nagar 1st Main Road?

The Venkatesh Nagar 1st Main Road falls under 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 Saligramam

The guideline value is a crucial factor when buying or selling property in Saligramam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the transaction must be registered at the relevant SRO, where the guideline value plays a significant role in ensuring that the correct fees are applied. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatesh Nagar 1st Main Road?

The current guideline value of Venkatesh Nagar 1st Main Road is Rs 4,950 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 664 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of +645%.

What is the stamp duty rate for properties in Venkatesh Nagar 1st Main Road?

The stamp duty rate for properties in Venkatesh Nagar 1st Main Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

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

How is the guideline value used during property registration?

The guideline value is used to determine the minimum value for property registration and is essential for calculating the applicable stamp duty and registration fees during the transaction.