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Guideline Value

Corporate

Guideline Value for Venkateswh Nagar Extension 2nd Street

₹4950/sq.ft.

The guideline value for Venkateswh Nagar Extension 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 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 2nd Street

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Venkateswh Nagar Extension 2nd Street guideline value

The current guideline value of Venkateswh Nagar Extension 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venkateswh Nagar Extension 2nd Street has changed

The guideline value for Venkateswh Nagar Extension 2nd Street has undergone several revisions over the years. In the 2007 revision, the value was set at 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 then decreased to Rs 3,015 per sq.ft in the 2017 revision, representing a decline of 33%. The 2023 revision saw a substantial increase to Rs 4,500 per sq.ft, followed by a further rise to Rs 4,950 per sq.ft in the 2024 revision, which is a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, 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, and Venkateswh Nagar Extension 2nd Street's 2024 figure is above that median.

Stamp duty and registration fee for property in Venkateswh Nagar Extension 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 would be 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 cost for these fees 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 detailed calculations.

Which Sub Registrar Office covers Venkateswh Nagar Extension 2nd Street?

The Sub Registrar Office that covers Venkateswh Nagar Extension 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 is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the fees reflect the value of the property being transferred, thereby facilitating a transparent transaction process.

Frequently asked questions

What is the current guideline value for Venkateswh Nagar Extension 2nd Street?

The current guideline value for Venkateswh Nagar Extension 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 seen several changes, increasing from Rs 1,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, which is 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 in Virugambakkam?

The Virugambakkam Sub Registrar Office handles property registrations for Venkateswh Nagar Extension 2nd Street, 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 serves as a reference point for determining the minimum registration price for properties. It is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the property's value.