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Guideline Value

Corporate

Guideline Value for Metro Nagar 1st Main Road

₹3050/sq.ft.

The guideline value for Metro Nagar 1st Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3050 per sq.ft, effective 1 July 2024. It was Rs 2750 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹3050 /sq.ft.
From 1-4-2023 ₹2750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1842 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2750 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹331 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹302 /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 Metro Nagar 1st Main Road

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Metro Nagar 1st Main Road guideline value

The current guideline value of Metro Nagar 1st Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village, under the Virugambakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Metro Nagar 1st Main Road has changed

The guideline value for Metro Nagar 1st Main Road has seen several revisions over the years. In 2002, the value was Rs 302 per sq.ft, which increased to Rs 331 per sq.ft in 2003. The next significant jump occurred in 2007, when the value rose to Rs 500 per sq.ft. Following this, the value increased dramatically to Rs 2,750 per sq.ft in 2012. However, it then decreased to Rs 1,842 per sq.ft in 2017. The 2023 revision marked a value of Rs 2,750 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,050 per sq.ft.

Overall, the guideline value has increased significantly from Rs 302 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, representing a total increase of 910%. Notably, the change from 2023 to 2024 reflects an increase of 11%, while the jump from 2017 to 2023 shows a rise of 49%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, which is equal to the guideline value of Metro Nagar 1st Main Road.

Stamp duty and registration fee for property in Metro Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value amounts to Rs 30,50,000. The stamp duty at 7% would be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, bringing the total to Rs 2,74,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metro Nagar 1st Main Road?

The Sub Registrar Office that covers Metro Nagar 1st 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 Maduravoyal

The guideline value is a crucial factor in the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Metro Nagar 1st Main Road?

The current guideline value of Metro Nagar 1st Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 302 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, showing a total increase of 910% over the years.

What are the stamp duty and registration fees for property in Metro Nagar 1st Main Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would be Rs 2,74,500.

Which Sub Registrar Office covers Metro Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office covers Metro Nagar 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Metro Nagar 1st Main Road?

Metro Nagar 1st Main Road falls under the Residential Class III Type - I land classification.