Guideline Value

Corporate

Guideline Value for Metro Nagar 3rd Main Road

₹3050/sq.ft.

The guideline value for Metro Nagar 3rd 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 3rd Main Road

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

Metro Nagar 3rd Main Road guideline value

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

How the guideline value of Metro Nagar 3rd Main Road has changed

The guideline value for Metro Nagar 3rd Main Road has seen several revisions over the years. Starting from Rs 302 per sq.ft in 2002, it increased to Rs 331 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, followed by a jump to Rs 2,750 per sq.ft in 2012. However, it dropped to Rs 1,842 per sq.ft in 2017. In 2023, the guideline value was revised to Rs 2,750 per sq.ft, and the most recent revision in 2024 set it at Rs 3,050 per sq.ft.

Between the revisions, there have been notable changes. From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was a remarkable 450%. The most recent increase from 2023 to 2024 is 11%. Overall, from 2002 to 2024, the guideline value has risen by 910%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, with rates ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, placing Metro Nagar 3rd Main Road at this median level.

Stamp duty and registration fee for property in Metro Nagar 3rd 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 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 more details.

Which Sub Registrar Office covers Metro Nagar 3rd Main Road?

The Sub Registrar Office that covers Metro Nagar 3rd 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 an important factor in property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which property can be registered. When buying or selling property, the registration office will refer to the guideline value to calculate the applicable stamp duty and registration fees.

During the registration process, buyers and sellers must ensure that the sale price is not lower than the guideline value. This ensures that the government receives the correct amount of revenue from the transaction, as the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Metro Nagar 3rd Main Road?

The current guideline value for Metro Nagar 3rd 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 significantly, from Rs 302 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, marking an overall increase of 910% over this period.

What are the stamp duty rates for properties in Metro Nagar 3rd Main Road?

The stamp duty for properties in Metro Nagar 3rd Main Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Metro Nagar 3rd Main Road?

The land classification for Metro Nagar 3rd Main Road is Residential Class III Type - I.