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Guideline Value

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Guideline Value for G.K.Industrial Estate 2nd Cross Street

₹4400/sq.ft.

The guideline value for G.k.industrial Estate 2nd 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 2nd Cross Street

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G.K.Industrial Estate 2nd Cross Street guideline value

The current guideline value for G.K.Industrial Estate 2nd 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, with a land classification of Residential Special Type - II.

How the guideline value of G.K.Industrial Estate 2nd Cross Street has changed

The guideline value for G.K.Industrial Estate 2nd Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 438 per sq.ft, which increased to Rs 480 per sq.ft in 2003. Following this, the value rose to Rs 750 per sq.ft in 2007, marking a 56% increase from the previous year. The 2012 revision saw the value reach Rs 4,000 per sq.ft, which was a substantial increase of 433% from 2007. However, the value then decreased by 33% to Rs 2,680 per sq.ft in 2017. The most recent revisions show a rise to Rs 4,000 per sq.ft in 2023, followed by a further increase of 10% to the current rate of Rs 4,400 per sq.ft in 2024.

Throughout these years, the guideline value has increased overall by 905% from 2002 to 2024. It is important to note that the register has no figure for the years not mentioned in the revisions for this street.

Guideline values in Maduravoyal

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

Stamp duty and registration fee for property in G.K.Industrial Estate 2nd 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 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers G.K.Industrial Estate 2nd Cross Street?

The G.K.Industrial Estate 2nd Cross Street falls under 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 is an essential reference during property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid when registering a property, ensuring that the transaction is compliant with local regulations.

When buying or selling a property, the guideline value acts as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for G.K.Industrial Estate 2nd Cross Street?

The current guideline value for G.K.Industrial Estate 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much 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, marking an overall increase of 905% over this period.

What is the land classification for G.K.Industrial Estate 2nd Cross Street?

The land classification for G.K.Industrial Estate 2nd Cross Street is Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the registration office for this area?

The registration office covering G.K.Industrial Estate 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 44,00,000, the stamp duty would be 7% of this amount.