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Guideline Value

Corporate

Guideline Value for Madurai Meenakshi Nagar - Thirumurugan 2nd Street

₹4950/sq.ft.

The guideline value for Madurai Meenakshi Nagar - Thirumurugan 2nd 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 2nd Street

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Madurai Meenakshi Nagar - Thirumurugan 2nd Street guideline value

The current guideline value of Madurai Meenakshi Nagar - Thirumurugan 2nd 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 - Thirumurugan 2nd Street has changed

The guideline value for Madurai Meenakshi Nagar - Thirumurugan 2nd Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 4,500 per sq.ft. This figure decreased to Rs 3,015 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 4,950 per sq.ft, representing a rise of 64% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

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

Stamp duty and registration fee for property in Madurai Meenakshi Nagar - Thirumurugan 2nd 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, leading to a total cost of Rs 4,45,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Madurai Meenakshi Nagar - Thirumurugan 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 more details.

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

The guideline value is a crucial factor during property registration in Valasaravakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware that the guideline value may differ from the actual sale price. The stamp duty is calculated based on the higher of these two values, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Madurai Meenakshi Nagar - Thirumurugan 2nd Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 4,500 per sq.ft 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 are the other streets in Valasaravakkam with the same guideline value?

Other streets in Valasaravakkam with the same guideline value of Rs 4,950 per sq.ft include Madurai Meenakshi Nagar - Thirumurugan 1st Street, Thirumurugan 3rd Street, Seyon Street, Thirumurugan Street, Selva Street, and Madurai Meenatchi Amman Street.

What is the stamp duty for property in Madurai Meenakshi Nagar - Thirumurugan 2nd Street?

The stamp duty for property in Madurai Meenakshi Nagar - Thirumurugan 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot valued at Rs 49,50,000, the stamp duty would amount to Rs 3,46,500.

Which office do I need to visit for registration?

The registration for properties in Madurai Meenakshi Nagar - Thirumurugan 2nd Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.