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Guideline Value

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Guideline Value for KARPAGA VINAYAGA COLONY - Balaji Avenue

₹3300/sq.ft.

The guideline value for Karpaga Vinayaga Colony - Balaji Avenue in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹301 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹275 /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 Karpaga Vinayaga Colony - Balaji Avenue

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KARPAGA VINAYAGA COLONY - Balaji Avenue guideline value

The current guideline value for KARPAGA VINAYAGA COLONY - Balaji Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Maduravoyal village under the Virugambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of KARPAGA VINAYAGA COLONY - Balaji Avenue has changed

The guideline value for KARPAGA VINAYAGA COLONY - Balaji Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 275 per sq.ft. This figure increased to Rs 301 per sq.ft in 2003, marking a 9% rise. The value then jumped to Rs 500 per sq.ft in 2007, reflecting a substantial increase of 66%. Following this, the value surged dramatically to Rs 3,000 per sq.ft in 2012, which was a 500% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, an increase of 10% from the previous year. There are no figures available for the years not listed in the register for this 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. KARPAGA VINAYAGA COLONY - Balaji Avenue's guideline value of Rs 3,300 per sq.ft is above this median.

Stamp duty and registration fee for property in KARPAGA VINAYAGA COLONY - Balaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers KARPAGA VINAYAGA COLONY - Balaji Avenue?

The KARPAGA VINAYAGA COLONY - Balaji Avenue falls under the jurisdiction of 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 plays a crucial role during the registration of property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. The guideline value is set by the state government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it provides a standardized method for assessing property values in the region.

Frequently asked questions

What is the current guideline value for KARPAGA VINAYAGA COLONY - Balaji Avenue?

The current guideline value for KARPAGA VINAYAGA COLONY - Balaji Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1100% over the years.

What is the land classification for KARPAGA VINAYAGA COLONY - Balaji Avenue?

KARPAGA VINAYAGA COLONY - Balaji Avenue is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for KARPAGA VINAYAGA COLONY - Balaji Avenue is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal, such as KARPAGA VINAYAGA COLONY - Ganga Avenue, Maha Kavi Bharathiar Street, Mahalakshmi Avenue, Main Road, Nethaji street, and Parthiban Street, all share the same guideline value of Rs 3,300 per sq.ft for 2024.