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Guideline Value

Corporate

Guideline Value for Madurai Naicken Road 1st Cross Street

₹2750/sq.ft.

The guideline value for Madurai Naicken Road 1st Cross Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹204 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹186 /sq.ft.
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 Naicken Road 1st Cross Street

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Madurai Naicken Road 1st Cross Street guideline value

The current guideline value of Madurai Naicken Road 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Madurai Naicken Road 1st Cross Street has changed

The guideline value for Madurai Naicken Road 1st Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 186 per sq.ft. This increased to Rs 204 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 400 per sq.ft in 2007, reflecting a 96% increase. By 2012, the value was revised to Rs 2,500 per sq.ft, which was a substantial increase of 525% from the previous figure. However, this was followed by a decrease of 33%, bringing the value down to Rs 1,675 per sq.ft in 2017.

In 2023, the guideline value rose again to Rs 2,500 per sq.ft, and the latest revision in 2024 has set it at Rs 2,750 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,378%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Madurai Naicken Road 1st Cross Street's 2024 figure below this median.

Stamp duty and registration fee for property in Madurai Naicken Road 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the 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 Naicken Road 1st Cross Street?

The Sub Registrar Office that covers Madurai Naicken Road 1st Cross 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 Maduravoyal

The guideline value plays a crucial role in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is registered at a value that reflects the current market conditions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value for Madurai Naicken Road 1st Cross Street?

The current guideline value for Madurai Naicken Road 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 186 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1,378%.

What is the land classification for Madurai Naicken Road 1st Cross Street?

The land classification for Madurai Naicken Road 1st Cross Street is Residential Class IV Type - I.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Madurai Naicken Road 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.