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Guideline Value

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Guideline Value for Madurai Meenakshi Nagar - Madurai Perumal koil Street

₹4950/sq.ft.

The guideline value for Madurai Meenakshi Nagar - Madurai Perumal Koil 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 ₹750 /sq.ft.
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 - Madurai Perumal Koil Street

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Madurai Meenakshi Nagar - Madurai Perumal koil Street guideline value

The current guideline value for Madurai Meenakshi Nagar - Madurai Perumal koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Madurai Meenakshi Nagar - Madurai Perumal koil Street has changed

The guideline value for this street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 750 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, showing a change of +500%. The guideline value remained unchanged at Rs 4,500 per sq.ft until the next revision in 2023.

In 2023, the guideline value was revised to Rs 4,500 per sq.ft again, with no change noted. However, in the most recent revision in 2024, the guideline value increased by 10% to Rs 4,950 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by +560%.

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 in this area is Rs 3,850 per sq.ft, placing the 2024 figure for Madurai Meenakshi Nagar - Madurai Perumal koil Street above this median.

Stamp duty and registration fee for property in Madurai Meenakshi Nagar - Madurai Perumal koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Madurai Meenakshi Nagar - Madurai Perumal koil Street?

The Sub Registrar Office covering Madurai Meenakshi Nagar - Madurai Perumal koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam. It serves as a reference point for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Madurai Meenakshi Nagar - Madurai Perumal koil Street?

The current guideline value for Madurai Meenakshi Nagar - Madurai Perumal koil 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 750 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, marking an overall increase of +560% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles registrations for Madurai Meenakshi Nagar - Madurai Perumal koil Street?

The Virugambakkam Sub Registrar Office handles registrations for Madurai Meenakshi Nagar - Madurai Perumal koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the appropriate revenue is collected by the government based on the higher of the guideline value or the sale price.