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Guideline Value

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Guideline Value for Majestic Colony (4th Street) - Thirupur Kumaran Street

₹4950/sq.ft.

The guideline value for Majestic Colony (4th Street) - Thirupur Kumaran 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 (4th Street) - Thirupur Kumaran Street

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Majestic Colony (4th Street) - Thirupur Kumaran Street guideline value

The current guideline value of Majestic Colony (4th Street) - Thirupur Kumaran Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Majestic Colony (4th Street) - Thirupur Kumaran Street has changed

The guideline value for Majestic Colony (4th Street) has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 650 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in the 2012 revision, reflecting a substantial rise of 592%. However, the 2017 revision saw a decrease to Rs 3,015 per sq.ft, which was a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision has set the guideline value at Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

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

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Majestic Colony (4th Street) - Thirupur Kumaran Street above this median.

Stamp duty and registration fee for property in Majestic Colony (4th Street) - Thirupur Kumaran Street

For a 1,000 sq.ft plot at the current guideline value, 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, making the total cost for these fees 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Majestic Colony (4th Street) - Thirupur Kumaran Street?

The Sub Registrar Office that covers Majestic Colony (4th Street) - Thirupur Kumaran 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 Valasaravakkam

The guideline value is crucial during property registration as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These costs are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Majestic Colony (4th Street)?

The current guideline value of Majestic Colony (4th Street) - Thirupur Kumaran 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 seen several revisions: Rs 650 per sq.ft in 2007, Rs 4,500 per sq.ft in 2012, Rs 3,015 per sq.ft in 2017, Rs 4,500 per sq.ft in 2023, and Rs 4,950 per sq.ft in 2024.

What is the land classification for this street?

Majestic Colony (4th Street) - Thirupur Kumaran Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions here?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Majestic Colony (4th Street).