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Guideline Value

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Guideline Value for Madurai Meenakshi Nagar - Kadamban 2nd Street

₹4950/sq.ft.

The guideline value for Madurai Meenakshi Nagar - Kadamban 2nd Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Madurai Meenakshi Nagar - Kadamban 2nd Street

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Madurai Meenakshi Nagar - Kadamban 2nd Street guideline value

The current guideline value for Madurai Meenakshi Nagar - Kadamban 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Madurai Meenakshi Nagar - Kadamban 2nd Street has changed

The guideline value for Madurai Meenakshi Nagar - Kadamban 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 4,500 per sq.ft. The 2012 revision also recorded a value of Rs 4,500 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This steady increase reflects the adjustments made in the recent revisions.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 3,850 per sq.ft, placing the 2024 guideline value for Madurai Meenakshi Nagar - Kadamban 2nd Street above this median.

Stamp duty and registration fee for property in Madurai Meenakshi Nagar - Kadamban 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madurai Meenakshi Nagar - Kadamban 2nd Street?

The Sub Registrar Office that covers Madurai Meenakshi Nagar - Kadamban 2nd 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 further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value for Madurai Meenakshi Nagar - Kadamban 2nd Street?

The current guideline value for Madurai Meenakshi Nagar - Kadamban 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft in 2024. There was no change in the value from 2012 to 2023, remaining at Rs 4,500 per sq.ft.

What is the land classification for this street?

The land classification for Madurai Meenakshi Nagar - Kadamban 2nd Street is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Madurai Meenakshi Nagar - Kadamban 2nd 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 higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 49,50,000, the stamp duty would be calculated accordingly, along with the registration fee.