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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 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 ₹712 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹643 /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 Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

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. The earliest recorded figure is from 2002, with a guideline value of Rs 643 per sq.ft. This value increased to Rs 712 per sq.ft in 2003, marking a change of +11%. The value then saw a significant rise to Rs 1,100 per sq.ft in 2007, which is a +54% increase. Following that, the value surged to Rs 4,500 per sq.ft in 2012, reflecting a remarkable increase of +309%. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of -33%. The value then rose again to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,950 per sq.ft in 2024, representing a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +670%. There are no figures available for the revisions in years other than those listed above.

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 guideline value in this area is Rs 4,400 per sq.ft, placing Venkatesh Nagar 2nd Street above this 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 amounts to Rs 49,50,000. The stamp duty at 7% would be 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 more precise 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Virugambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. The guideline value is fixed by the government and is based on various factors, including the location and type of property.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

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 changed significantly from Rs 643 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of +670% over the years.

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

Venkatesh Nagar 2nd Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 49,50,000 would incur a stamp duty of Rs 3,46,500 at 7%.