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Guideline Value

Corporate

Guideline Value for Metro Nagar 2nd Main Road

₹3050/sq.ft.

The guideline value for Metro Nagar 2nd 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 2nd Main Road

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Metro Nagar 2nd Main Road guideline value

The current guideline value of Metro Nagar 2nd 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 is classified as Residential Class III Type - I.

How the guideline value of Metro Nagar 2nd Main Road has changed

The guideline value for Metro Nagar 2nd Main Road has seen several revisions over the years. In 2002, the value was Rs 302 per sq.ft. This increased to Rs 331 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 500 per sq.ft in 2007, which was a +51% increase. Following this, the value jumped to Rs 2,750 per sq.ft in 2012, an increase of +450%. However, it decreased to Rs 1,842 per sq.ft in 2017, reflecting a decline of -33%. The value then rose to Rs 2,750 per sq.ft in 2023, a +49% increase, before reaching the current value of Rs 3,050 per sq.ft in 2024, which is an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +910%. There are no revisions with figures missing for this street in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value. The values range from Rs 2,200 to Rs 6,050 per sq.ft, with the median value being Rs 3,050 per sq.ft. The guideline value for Metro Nagar 2nd Main Road is equal to this median.

Stamp duty and registration fee for property in Metro Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,050 per sq.ft, the guideline value would be Rs 30,50,000. The stamp duty at 7% would amount to Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, totaling 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.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Metro Nagar 2nd Main Road?

The Sub Registrar Office covering Metro Nagar 2nd 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 process when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. This value is also referenced to avoid undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Metro Nagar 2nd Main Road?

The current guideline value of Metro Nagar 2nd 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 increased from Rs 302 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of +910% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 30,50,000, the stamp duty would be Rs 2,13,500 and the registration fee would be Rs 61,000, totaling Rs 2,74,500.

Which Sub Registrar Office is responsible for Metro Nagar 2nd Main Road?

The Virugambakkam Sub Registrar Office is responsible for Metro Nagar 2nd Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used during property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is recorded at a fair value for legal and taxation purposes.