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Guideline Value

Corporate

Guideline Value for Venkateswh Nagar Extension 1st Main Road

₹4950/sq.ft.

The guideline value for Venkateswh Nagar Extension 1st Main Road 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 Venkateswh Nagar Extension 1st Main Road

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Venkateswh Nagar Extension 1st Main Road guideline value

The current guideline value of Venkateswh Nagar Extension 1st Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Venkateswh Nagar Extension 1st Main Road has changed

The guideline value for Venkateswh Nagar Extension 1st Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this value dropped to Rs 3,015 per sq.ft in 2017. Following that, the value rose sharply to Rs 4,500 per sq.ft in 2023, and has now reached Rs 4,950 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 350%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Venkateswh Nagar Extension 1st Main Road is above this median.

Stamp duty and registration fee for property in Venkateswh Nagar Extension 1st Main Road

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the 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, totaling 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 details.

Which Sub Registrar Office covers Venkateswh Nagar Extension 1st Main Road?

The Venkateswh Nagar Extension 1st Main Road 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 more information.

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

The guideline value is a crucial factor when registering a property in Virugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateswh Nagar Extension 1st Main Road?

The current guideline value of Venkateswh Nagar Extension 1st Main Road 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, starting from Rs 1,100 per sq.ft in 2007 and reaching Rs 4,950 per sq.ft in 2024, marking an overall increase of 350% since 2007.

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 in this area?

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

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

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees. It ensures that properties are registered at a fair value, contributing to government revenue.