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Guideline Value

Corporate

Guideline Value for Venkatesh Nagar 2nd Street

₹4950/sq.ft.

The guideline value for Venkatesh Nagar 2nd Street 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 2nd Street

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Venkatesh Nagar 2nd Street guideline value

The current guideline value of Venkatesh Nagar 2nd Street 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 Street has changed

The guideline value for Venkatesh Nagar 2nd Street has undergone several revisions over the years. Starting from Rs 664 per sq.ft in 2002, the value increased to Rs 725 per sq.ft in 2003, marking a 9% rise. In 2007, the value saw a significant jump to Rs 1,100 per sq.ft, which is an increase of 52%. The following revision in 2012 brought the value back to Rs 4,500 per sq.ft, reflecting a 309% increase from the previous figure.

From 2012 to 2017, the guideline value decreased to Rs 3,015 per sq.ft, indicating a decline of 33%. However, from 2017 to 2023, there was a substantial increase of 49%, raising the value to Rs 4,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, a 10% increase from the previous year.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Venkatesh Nagar 2nd Street's 2024 figure above that median.

Stamp duty and registration fee for property in Venkatesh Nagar 2nd Street

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 2nd Street?

The Sub Registrar Office that covers Venkatesh Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Venkatesh Nagar 2nd 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 increased from Rs 664 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing an overall increase of 645% over the years.

What is the land classification for Venkatesh Nagar 2nd Street?

The land classification for Venkatesh Nagar 2nd Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Venkatesh Nagar 2nd Street?

The Sub Registrar Office for Venkatesh Nagar 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for a property in Venkatesh Nagar 2nd Street?

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.