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Guideline Value

Corporate

Guideline Value for Majestic Colony Main Road

₹4950/sq.ft.

The guideline value for Majestic Colony Main Road 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 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹497 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹457 /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 Majestic Colony Main Road

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Majestic Colony Main Road guideline value

The current guideline value of Majestic Colony Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Majestic Colony Main Road has changed

The guideline value for Majestic Colony Main Road has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 457 per sq.ft. It increased to Rs 497 per sq.ft in 2003, marking a 9% rise. The value saw a significant jump to Rs 1,100 per sq.ft in 2007, which was a 121% increase. The next revision in 2012 brought the value down to Rs 4,500 per sq.ft, a decrease of 33%. In 2017, the value rose again to Rs 3,015 per sq.ft, marking a 49% increase. The 2023 revision set the guideline value at Rs 4,500 per sq.ft, and the latest revision in 2024 increased it by 10% to Rs 4,950 per sq.ft.

There are no figures available for revisions in years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 983%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, placing Majestic Colony Main Road's 2024 figure above this median.

Stamp duty and registration fee for property in Majestic Colony Main Road

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 be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Majestic Colony Main Road?

The Sub Registrar Office that covers Majestic Colony Main Road 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 is an essential factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value is used to determine the applicable charges, ensuring that the transaction is recorded accurately. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Majestic Colony Main Road?

The current guideline value of Majestic Colony Main Road 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 457 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 983% over this period.

What is the registration office for Majestic Colony Main Road?

The registration office for Majestic Colony Main Road 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 Majestic Colony Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,46,500.

What are the other streets with the same guideline value in Valasaravakkam?

Other streets in Valasaravakkam with the same guideline value of Rs 4,950 per sq.ft include Majestic Colony 6th Street, Majestic Colony 5th Street, Majestic Colony Sarojini Street, Majestic Colony (4th Street) - Thirupur Kumaran Street, Majestic Colony (3rd Street) - Jeevanandan Street, and Majestic Colony (2nd Street) - Azhagiri Street.