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Guideline Value

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Guideline Value for Madurai Meenakshi Nagar - Thirumurugan 3rd Street

₹4950/sq.ft.

The guideline value for Madurai Meenakshi Nagar - Thirumurugan 3rd 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 ₹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 3rd Street

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Madurai Meenakshi Nagar - Thirumurugan 3rd Street guideline value

The current guideline value for Madurai Meenakshi Nagar - Thirumurugan 3rd 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 3rd Street has changed

The guideline value for Madurai Meenakshi Nagar - Thirumurugan 3rd Street has seen several revisions over the years. The earliest revision available is from 2012, where the value was Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in 2017. In 2023, the value increased to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

Specifically, the changes between the revisions are notable: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

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

Stamp duty and registration fee for property in Madurai Meenakshi Nagar - Thirumurugan 3rd 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 cost for these fees to Rs 4,45,500. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Madurai Meenakshi Nagar - Thirumurugan 3rd Street?

The Sub Registrar Office that covers Madurai Meenakshi Nagar - Thirumurugan 3rd 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value for Madurai Meenakshi Nagar - Thirumurugan 3rd Street?

The current guideline value for Madurai Meenakshi Nagar - Thirumurugan 3rd 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, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,950 per sq.ft in 2024.

What is the land classification for this street?

Madurai Meenakshi Nagar - Thirumurugan 3rd Street is classified as Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office covering this area is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is 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 Rs 3,46,500 at a rate of 7%.