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Guideline Value

Corporate

Guideline Value for G.K.Industrial Estate 1st Cross Street

₹4400/sq.ft.

The guideline value for G.k.industrial Estate 1st Cross Street in Maduravoyal 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 Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Special 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 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹480 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹438 /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 G.k.industrial Estate 1st Cross Street

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G.K.Industrial Estate 1st Cross Street guideline value

The current guideline value for G.K.Industrial Estate 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of G.K.Industrial Estate 1st Cross Street has changed

Since 2002, the guideline value for G.K.Industrial Estate 1st Cross Street has seen significant changes. In 2002, the value was Rs 438 per sq.ft, which increased to Rs 480 per sq.ft in 2003. By 2007, the value rose sharply to Rs 750 per sq.ft, marking a 56% increase from the previous year. The value then saw a substantial jump to Rs 4,000 per sq.ft in 2012, reflecting a 433% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 905%. The register has no figures for the years not listed above.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value in this area is Rs 3,050 per sq.ft, placing G.K.Industrial Estate 1st Cross Street above this median.

Stamp duty and registration fee for property in G.K.Industrial Estate 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to 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 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 G.K.Industrial Estate 1st Cross Street?

The G.K.Industrial Estate 1st Cross Street 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that they are prepared for the associated costs, which include stamp duty and registration fees based on the guideline value.

Frequently asked questions

What is the current guideline value for G.K.Industrial Estate 1st Cross Street?

The current guideline value for G.K.Industrial Estate 1st Cross 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 changed significantly from Rs 438 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 905% over this period.

What is the stamp duty rate for properties in G.K.Industrial Estate 1st Cross Street?

The stamp duty rate for properties in G.K.Industrial Estate 1st Cross Street is 7% of the guideline value or the 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 Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with G.K.Industrial Estate 1st Cross Street's value being above this median at Rs 4,400 per sq.ft.