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Guideline Value

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Guideline Value for WEST KAMAKODI NAGAR - Velavan Street

₹4400/sq.ft.

The guideline value for West Kamakodi Nagar - Velavan Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹650 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹399 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹367 /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 West Kamakodi Nagar - Velavan Street

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WEST KAMAKODI NAGAR - Velavan Street guideline value

The current guideline value of WEST KAMAKODI NAGAR - Velavan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of WEST KAMAKODI NAGAR - Velavan Street has changed

The guideline value for WEST KAMAKODI NAGAR - Velavan Street has undergone several revisions over the years. In 2002, the value was Rs 367 per sq.ft, which increased to Rs 399 per sq.ft in 2003, marking a change of +9%. The value rose significantly to Rs 650 per sq.ft in 2007, representing a +63% increase. The 2012 revision saw the value drop to Rs 4,000 per sq.ft, a decrease of -33%. Subsequently, in 2017, the value increased to Rs 2,680 per sq.ft, reflecting a +49% change. The 2023 revision set the value at Rs 4,000 per sq.ft, before the current value of Rs 4,400 per sq.ft was established in 2024, indicating a +10% increase from the previous year.

There are no figures available in the register for revisions outside the years listed above. Overall, from 2002 to 2024, the guideline value has increased by +1099%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which means that the current value of WEST KAMAKODI NAGAR - Velavan Street is above this median.

Stamp duty and registration fee for property in WEST KAMAKODI NAGAR - Velavan Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that 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 information.

Which Sub Registrar Office covers WEST KAMAKODI NAGAR - Velavan Street?

The Sub Registrar Office that covers WEST KAMAKODI NAGAR - Velavan 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of WEST KAMAKODI NAGAR - Velavan Street?

The current guideline value of WEST KAMAKODI NAGAR - Velavan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 367 per sq.ft in 2002 to the current Rs 4,400 per sq.ft in 2024, marking a significant increase of +1099% over the years.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for WEST KAMAKODI NAGAR - Velavan Street?

The Virugambakkam Sub Registrar Office is responsible for handling registrations for WEST KAMAKODI NAGAR - Velavan Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for this street?

WEST KAMAKODI NAGAR - Velavan Street is classified as Residential Class I Type - II, indicating its suitability for residential development.