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Guideline Value

Corporate

Guideline Value for Metro Nagar 4th Main Road

₹3050/sq.ft.

The guideline value for Metro Nagar 4th 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 ₹700 /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 4th Main Road

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Metro Nagar 4th Main Road guideline value

The current guideline value of Metro Nagar 4th Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024. This road 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 4th Main Road has changed

The guideline value for Metro Nagar 4th Main Road has experienced several revisions over the years. In 2002, the guideline value was Rs 302 per sq.ft, which increased to Rs 331 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, reflecting an increase of 111%. In 2012, it remained at Rs 2,750 per sq.ft, but in 2017, it rose to Rs 1,842 per sq.ft, a decrease of 33% from the previous period. The guideline value then increased to Rs 2,750 per sq.ft in 2023, followed by the current rate of Rs 3,050 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 910%. The revisions show a fluctuating trend, with no figures available for the years not mentioned in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with a 2024 guideline value range 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 2024 figure for Metro Nagar 4th Main Road.

Stamp duty and registration fee for property in Metro Nagar 4th 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, while the registration fee at 2% would be Rs 61,000. Together, these fees would total Rs 2,74,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metro Nagar 4th Main Road?

The Metro Nagar 4th Main Road is covered by 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 when registering 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 the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are charged based on the higher of the guideline value or the sale price, which underscores the importance of understanding the current guideline values in the area.

Frequently asked questions

What is the current guideline value of Metro Nagar 4th Main Road?

The current guideline value of Metro Nagar 4th 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 an overall increase of 910% over this period.

What are the stamp duty rates for properties in Metro Nagar 4th Main Road?

The stamp duty rate for properties in Metro Nagar 4th Main Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Metro Nagar 4th Main Road located?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for property transactions and is essential for calculating stamp duty and registration fees during the buying or selling process.