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Guideline Value

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Guideline Value for Madurai Meenakshi Nagar - Thirumurugan 1st Street

₹4950/sq.ft.

The guideline value for Madurai Meenakshi Nagar - Thirumurugan 1st Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
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 - Thirumurugan 1st Street

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Madurai Meenakshi Nagar - Thirumurugan 1st Street guideline value

The current guideline value of Madurai Meenakshi Nagar - Thirumurugan 1st 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 - Thirumurugan 1st Street has changed

The guideline value for Madurai Meenakshi Nagar - Thirumurugan 1st Street has seen several revisions over the years. In 2012, the value was set at Rs 4,500 per sq.ft, which decreased to Rs 3,015 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the guideline value to Rs 4,950 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

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 these streets is Rs 3,850 per sq.ft, indicating that the guideline value for Madurai Meenakshi Nagar - Thirumurugan 1st Street is above this median.

Stamp duty and registration fee for property in Madurai Meenakshi Nagar - Thirumurugan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the guideline value totals Rs 49,50,000. The stamp duty is charged at 7%, amounting to Rs 3,46,500, and the registration fee at 2% totals Rs 99,000. Therefore, the total cost for stamp duty and registration fees together is Rs 4,45,500. It is important to note that 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 - Thirumurugan 1st Street?

The Madurai Meenakshi Nagar - Thirumurugan 1st 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 Valasaravakkam

The guideline value is a critical factor in the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Madurai Meenakshi Nagar - Thirumurugan 1st Street?

The current guideline value of Madurai Meenakshi Nagar - Thirumurugan 1st 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 changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, and then increased to Rs 4,950 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification for this street?

The land classification for Madurai Meenakshi Nagar - Thirumurugan 1st Street is Residential Class I Type - I.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 49,50,000, the stamp duty is Rs 3,46,500 and the registration fee is Rs 99,000, totaling Rs 4,45,500. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers Madurai Meenakshi Nagar - Thirumurugan 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.