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Guideline Value

Corporate

Guideline Value for G.K.Industrial Estate 3rd Cross Street

₹4400/sq.ft.

The guideline value for G.k.industrial Estate 3rd 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 3rd Cross Street

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G.K.Industrial Estate 3rd Cross Street guideline value

The current guideline value of G.K.Industrial Estate 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of G.K.Industrial Estate 3rd Cross Street has changed

The guideline value for G.K.Industrial Estate 3rd Cross Street has seen significant changes over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 438 per sq.ft. This value increased to Rs 480 per sq.ft in 2003, marking a change of +10%. In 2007, the value rose dramatically to Rs 750 per sq.ft, an increase of +56%. The next revision in 2012 saw the value rise to Rs 4,000 per sq.ft, which was a substantial increase of +433% from the previous figure.

In 2017, the guideline value decreased to Rs 2,680 per sq.ft, reflecting a change of -33%. The value then increased again in 2023 to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a +10% change. Overall, from 2002 to 2024, the guideline value has increased by +905%. There are no figures available for revisions in the years not mentioned.

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. The median value for these streets is Rs 3,050 per sq.ft, and G.K.Industrial Estate 3rd Cross Street's 2024 figure is above this median.

Stamp duty and registration fee for property in G.K.Industrial Estate 3rd 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 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 duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G.K.Industrial Estate 3rd Cross Street?

The G.K.Industrial Estate 3rd 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 more information.

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

The guideline value is an important factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale process.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the transaction is compliant with local regulations and that the correct fees are paid based on the property's value.

Frequently asked questions

What is the current guideline value of G.K.Industrial Estate 3rd Cross Street?

The current guideline value of G.K.Industrial Estate 3rd 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 the years.

What is the land classification for G.K.Industrial Estate 3rd Cross Street?

The land classification for G.K.Industrial Estate 3rd Cross Street is Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for G.K.Industrial Estate 3rd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000, leading to specific fees based on that value.