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Guideline Value

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Guideline Value for Majestic Colony (3rd Street) - Jeevanandan Street

₹4950/sq.ft.

The guideline value for Majestic Colony (3rd Street) - Jeevanandan 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 ₹650 /sq.ft.
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 Majestic Colony (3rd Street) - Jeevanandan Street

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Majestic Colony (3rd Street) - Jeevanandan Street guideline value

The current guideline value of Majestic Colony (3rd Street) - Jeevanandan 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Majestic Colony (3rd Street) - Jeevanandan Street has changed

The guideline value for Majestic Colony (3rd Street) - Jeevanandan Street has undergone several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 592% rise. However, it saw a decrease to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, and in the latest revision for 2024, it stands at Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 662%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 guideline value in this area is Rs 3,850 per sq.ft, and the 2024 guideline value for Majestic Colony (3rd Street) - Jeevanandan Street is above this median.

Stamp duty and registration fee for property in Majestic Colony (3rd Street) - Jeevanandan 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 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 more details.

Which Sub Registrar Office covers Majestic Colony (3rd Street) - Jeevanandan Street?

The Sub Registrar Office that covers Majestic Colony (3rd Street) - Jeevanandan 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 further assistance.

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 is used to determine the stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value is the basis for these fees, and it is essential to ensure that the property is registered at the correct value.

When a property is sold, the sale price must be compared with the guideline value. The higher of the two will be used to calculate the applicable stamp duty, ensuring compliance with local regulations and accurate financial planning for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value for Majestic Colony (3rd Street) - Jeevanandan Street?

The current guideline value for Majestic Colony (3rd Street) - Jeevanandan 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 650 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, representing an overall increase of 662% over this period.

What is the land classification for Majestic Colony (3rd Street) - Jeevanandan Street?

Majestic Colony (3rd Street) - Jeevanandan Street is classified under Residential Class I Type - I.

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

The Sub Registrar Office for Majestic Colony (3rd Street) - Jeevanandan 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 of the property. For instance, for a property valued at Rs 49,50,000, the stamp duty would be calculated at 7% of this amount.