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Guideline Value

Corporate

Guideline Value for Chozhan Nagar Main Road 3rd Street

₹2750/sq.ft.

The guideline value for Chozhan Nagar Main Road 3rd Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹479 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹437 /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 Chozhan Nagar Main Road 3rd Street

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Chozhan Nagar Main Road 3rd Street guideline value

The current guideline value of Chozhan Nagar Main Road 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Chozhan Nagar Main Road 3rd Street has changed

The guideline value for Chozhan Nagar Main Road 3rd Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 437 per sq.ft. This increased to Rs 479 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly in the following years, reaching Rs 600 per sq.ft in 2007, which was a 25% increase from the previous figure. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, a drop of 317% from the 2007 figure. However, this was followed by a substantial increase to Rs 1,675 per sq.ft in 2017, representing a 49% rise.

In the 2023 revision, the guideline value was set at Rs 2,500 per sq.ft, and in the latest 2024 revision, it has increased to Rs 2,750 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 529% for Chozhan Nagar Main Road 3rd Street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for Chozhan Nagar Main Road 3rd Street is below this median.

Stamp duty and registration fee for property in Chozhan Nagar Main Road 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chozhan Nagar Main Road 3rd Street?

The Sub Registrar Office that covers Chozhan Nagar Main Road 3rd 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 details.

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

The guideline value plays a crucial role in property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider the guideline value when negotiating the sale price, as it serves as a benchmark for the transaction.

When registering a property, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chozhan Nagar Main Road 3rd Street?

The current guideline value of Chozhan Nagar Main Road 3rd Street is Rs 2,750 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 437 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 529% over this period.

What is the stamp duty rate for properties in Chozhan Nagar Main Road 3rd Street?

The stamp duty rate for properties in Chozhan Nagar Main Road 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chozhan Nagar Main Road 3rd Street located?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. Buyers must pay duty based on the higher of the guideline value or the sale price at the time of registration.