Guideline Value for Madurai Meenakshi Nagar - Thirumurugan Street

Madurai Meenakshi Nagar - Thirumurugan Street guideline value

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

The guideline value for Madurai Meenakshi Nagar - Thirumurugan Street has seen several revisions over the years. In 2012, the value was Rs 4,500 per sq.ft, which decreased to Rs 3,015 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

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

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

• Madurai Meenakshi Nagar - Thirumurugan 3rd Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenatchi Amman Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Thirumurugan 2nd Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Thirumurugan 1st Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Seyon Street: Rs 4,950 per sq.ft (2024)
• Madurai Meenakshi Nagar - Selva Street: Rs 4,950 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be 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 further calculations.

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

The Madurai Meenakshi Nagar - Thirumurugan Street falls under the jurisdiction of 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 benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. This ensures that both parties are aware of the financial obligations involved in the sale.

Frequently asked questions

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

The current guideline value of Madurai Meenakshi Nagar - Thirumurugan 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 increased 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 Street is classified as Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for Madurai Meenakshi Nagar - Thirumurugan 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. For example, for a property valued at Rs 49,50,000, the stamp duty at 7% would be Rs 3,46,500.