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Guideline Value

Corporate

Guideline Value for Venkatesh Nagar 1st Street

₹4950/sq.ft.

The guideline value for Venkatesh Nagar 1st Street in Virugambakkam 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 Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class II Type - II
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 1st Street

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Venkatesh Nagar 1st Street guideline value

The current guideline value of Venkatesh Nagar 1st Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Venkatesh Nagar 1st Street has changed

The guideline value for Venkatesh Nagar 1st Street has undergone 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 decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw the guideline value increase to Rs 4,500 per sq.ft, and the latest revision in 2024 has set it at Rs 4,950 per sq.ft, reflecting a 10% increase.

Notably, the revisions for the years 2002 and 2003 do not have any figures recorded for Venkatesh Nagar 1st Street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 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 value for these streets is Rs 4,400 per sq.ft, placing Venkatesh Nagar 1st Street above this median.

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

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. Together, these fees amount 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 1st Street?

The Venkatesh Nagar 1st Street 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 additional assistance.

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

The guideline value is a critical factor in property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers often refer to the guideline value to understand the official pricing for properties in the area.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration process reflects the true value of the transaction.

Frequently asked questions

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

The current guideline value of Venkatesh Nagar 1st 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 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%.

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 property registrations for Venkatesh Nagar 1st Street?

The Virugambakkam Sub Registrar Office handles property registrations for Venkatesh Nagar 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Venkatesh Nagar 1st Street?

The land classification for Venkatesh Nagar 1st Street is Residential Class II Type - II.