Guideline Value

Corporate

Guideline Value for Venkateswh Nagar Extension

₹4950/sq.ft.

The guideline value for Venkateswh Nagar Extension 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

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Venkateswh Nagar Extension guideline value

The current guideline value of Venkateswh Nagar Extension is Rs 4,950 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Venkateswh Nagar Extension has undergone several revisions over the years. The earliest recorded value in 2007 was Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this figure dropped to Rs 3,015 per sq.ft in 2017. The value then rose sharply to Rs 4,500 per sq.ft in 2023, before reaching the current value of Rs 4,950 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2007 to 2012, there was a remarkable increase of 309%. However, the value decreased by 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, followed by a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 350% from 2007 to 2024. The register has no figures for the years 2002 and 2003 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. The median value is Rs 4,400 per sq.ft, placing Venkateswh Nagar Extension's current value above this median.

Stamp duty and registration fee for property in Venkateswh Nagar Extension

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. 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswh Nagar Extension?

The Venkateswh Nagar Extension 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 critical factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateswh Nagar Extension?

The current guideline value of Venkateswh Nagar Extension 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, reflecting an overall increase of 350% over this period.

What are the stamp duty rates for property in Venkateswh Nagar Extension?

The stamp duty for property in Venkateswh Nagar Extension is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, with Venkateswh Nagar Extension's current value exceeding this median.