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Guideline Value

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Guideline Value for Venkatesh Nagar 2nd Main Road (Sastri Nagar)

₹4950/sq.ft.

The guideline value for Venkatesh Nagar 2nd Main Road (sastri Nagar) 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 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 Venkatesh Nagar 2nd Main Road (sastri Nagar)

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Venkatesh Nagar 2nd Main Road (Sastri Nagar) guideline value

The current guideline value for Venkatesh Nagar 2nd Main Road (Sastri Nagar) is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkatesh Nagar 2nd Main Road (Sastri Nagar) has changed

The guideline value for Venkatesh Nagar 2nd Main Road (Sastri Nagar) has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,100 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a substantial rise of 309%. However, the value then dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, followed by the current revision of Rs 4,950 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 350%. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

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. The median guideline value in this area is Rs 4,400 per sq.ft, positioning Venkatesh Nagar 2nd Main Road (Sastri Nagar) above this median.

Stamp duty and registration fee for property in Venkatesh Nagar 2nd Main Road (Sastri Nagar)

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, while the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers Venkatesh Nagar 2nd Main Road (Sastri Nagar)?

The Venkatesh Nagar 2nd Main Road (Sastri Nagar) 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 details.

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

The guideline value is a critical factor in the registration process for buying or selling property in Saligramam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the property transaction.

When you register a property, the guideline value ensures that the transaction reflects a fair value for the property being sold. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Venkatesh Nagar 2nd Main Road?

The current guideline value of Venkatesh Nagar 2nd Main Road (Sastri Nagar) is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much 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, marking an overall increase of 350% over the years.

What are the stamp duty and registration fees for properties 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.

Which office handles registrations for Venkatesh Nagar 2nd Main Road?

The registrations for Venkatesh Nagar 2nd Main Road (Sastri Nagar) are handled by the Virugambakkam Sub Registrar Office.

What is the land classification for Venkatesh Nagar 2nd Main Road?

The land classification for Venkatesh Nagar 2nd Main Road (Sastri Nagar) is Residential Class I Type - I.