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Guideline Value

Corporate

Guideline Value for Venkatesh Nagar 1st Street (S.No 1)

₹4950/sq.ft.

The guideline value for Venkatesh Nagar 1st Street (s.no 1) 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 (s.no 1)

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Venkatesh Nagar 1st Street (S.No 1) guideline value

The current guideline value of Venkatesh Nagar 1st Street (S.No 1) is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls 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 (S.No 1) has changed

The guideline value for Venkatesh Nagar 1st Street (S.No 1) has seen several revisions over the years. In the 2007 revision, the rate was Rs 1,100 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a rise of 309%. However, the value decreased to Rs 3,015 per sq.ft in the 2017 revision, reflecting a drop of 33%. The 2023 revision saw another increase to Rs 4,500 per sq.ft, and the latest 2024 revision has set the value at Rs 4,950 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this 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 guideline value in this area is Rs 4,400 per sq.ft, placing Venkatesh Nagar 1st Street (S.No 1) above this median.

Stamp duty and registration fee for property in Venkatesh Nagar 1st Street (S.No 1)

For a 1,000 sq.ft plot at the current guideline value, 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 fees together to Rs 4,45,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesh Nagar 1st Street (S.No 1)?

The Sub Registrar Office that covers Venkatesh Nagar 1st Street (S.No 1) 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 is an important factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum sale price of a property, ensuring that the transaction is recorded at a value that reflects the area's market conditions.

When registering a property, buyers and sellers must consider the guideline value to calculate applicable fees, such as stamp duty and registration fees. This ensures that all transactions comply with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Venkatesh Nagar 1st Street (S.No 1)?

The current guideline value of Venkatesh Nagar 1st Street (S.No 1) 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 from Rs 1,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What is the land classification for Venkatesh Nagar 1st Street (S.No 1)?

The land classification for Venkatesh Nagar 1st Street (S.No 1) is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Venkatesh Nagar 1st Street (S.No 1)?

The Sub Registrar Office for Venkatesh Nagar 1st Street (S.No 1) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Venkatesh Nagar 1st Street (S.No 1)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 3,46,500.