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Guideline Value

Corporate

Guideline Value for Venkatesh Nagar 3rd Street

₹4950/sq.ft.

The guideline value for Venkatesh Nagar 3rd 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 3rd Street

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Venkatesh Nagar 3rd Street guideline value

The current guideline value of Venkatesh Nagar 3rd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class I Type - I.

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

In the 2002 revision, the guideline value was Rs 664 per sq.ft. This increased to Rs 725 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 1,100 per sq.ft in 2007, which was a 52% increase. The 2012 revision saw a significant jump to Rs 4,500 per sq.ft, representing a 309% increase. However, in 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a 33% decline. The guideline value rose again to Rs 4,500 per sq.ft in 2023, and finally, it reached Rs 4,950 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 645%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value 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 3rd Street above this median.

Stamp duty and registration fee for property in Venkatesh 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 would be Rs 49,50,000. The stamp duty at 7% would amount to 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 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 Venkatesh Nagar 3rd Street?

The Venkatesh Nagar 3rd Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is compliant with the regulations set forth by the Registration Department.

Frequently asked questions

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

The current guideline value of Venkatesh Nagar 3rd Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 664 per sq.ft to Rs 4,950 per sq.ft in 2024, marking an overall increase of 645% over the years.

What is the role of the guideline value in property transactions?

The guideline value is used as a benchmark for property registration, determining the minimum value for registration and the applicable stamp duty and registration fees based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Venkatesh Nagar 3rd Street?

The Sub Registrar Office covering Venkatesh Nagar 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for properties in Venkatesh Nagar 3rd 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 for these fees.