Guideline Value

Corporate

Guideline Value for Metro City Phase-I

₹520/sq.ft.

The guideline value for Metro City Phase-i in Papparambakkam village (Manavalanagar SRO, Chennai zone) is Rs 520 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Papparambakkam

Village

Manavalanagar

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹520 /sq.ft.
From 1-4-2023 ₹520 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹348 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹520 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
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)

Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002
044_29595957
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[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 Metro City Phase-i

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Metro City Phase-I guideline value

The current guideline value of Metro City Phase-I is Rs 520 per sq.ft, effective from 1 July 2024. This area is located in Papparambakkam village and falls under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Metro City Phase-I has changed

In the 2012 revision, the guideline value was Rs 520 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 348 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 520 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision, reflecting a 49% increase from 2017 to 2023. The overall change from 2012 to 2024 shows no increase.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the most recent revisions are 2012, 2017, 2023, and 2024, with the current rate being Rs 520 per sq.ft.

Guideline values in Papparambakkam

In Papparambakkam, there are 23 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 400 to Rs 620 per sq.ft. The median value is Rs 520 per sq.ft, which is equal to the guideline value of Metro City Phase-I.

Stamp duty and registration fee for property in Metro City Phase-I

For a 1,000 sq.ft plot at the current rate of Rs 520 per sq.ft, the guideline value amounts to Rs 5,20,000. The stamp duty at 7% would be Rs 36,400, and the registration fee at 2% would be Rs 10,400, totaling Rs 46,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Metro City Phase-I?

The Sub Registrar Office covering Metro City Phase-I is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Papparambakkam

The guideline value is a critical factor during the registration of property transactions in Papparambakkam. It serves as a basis for calculating the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the higher amount between the guideline value and the sale price is considered for duty calculation. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Metro City Phase-I?

The current guideline value of Metro City Phase-I is Rs 520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 520 per sq.ft in both the 2023 and 2024 revisions. It was Rs 348 per sq.ft in 2017 and Rs 520 per sq.ft in 2012.

What other streets have guideline values in Papparambakkam?

Other streets in Papparambakkam have guideline values ranging from Rs 400 to Rs 620 per sq.ft, with the median being Rs 520 per sq.ft. Streets such as Metro City Phase - II and NRI ê¤ì¢® also have guideline values of Rs 415 and Rs 520 per sq.ft, respectively.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 520 per sq.ft incurs a total of Rs 46,800 in fees.

Where can I find the Sub Registrar Office for Metro City Phase-I?

The Sub Registrar Office for Metro City Phase-I is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find more information through the provided link.