Guideline Value

Corporate

Guideline Value for Metro Nagar 5th Main Road

₹3050/sq.ft.

The guideline value for Metro Nagar 5th 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 5th Main Road

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Metro Nagar 5th Main Road guideline value

The current guideline value of Metro Nagar 5th Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024. This street 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 5th Main Road has changed

The guideline value for Metro Nagar 5th 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. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking a 51% increase from the previous year. The value remained at Rs 500 per sq.ft until the next revision in 2012, where it jumped to Rs 2,750 per sq.ft, reflecting a remarkable 450% increase. However, this figure dropped to Rs 1,842 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 2,750 per sq.ft in 2023, before reaching the current value of Rs 3,050 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 910%. The register does not contain figures for revisions in years other than those specified.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry 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 2024 figure for Metro Nagar 5th Main Road.

Stamp duty and registration fee for property in Metro Nagar 5th 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, making the total cost for these fees Rs 2,74,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Metro Nagar 5th Main Road?

The Sub Registrar Office that covers Metro Nagar 5th 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 plays an essential role when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees that are payable during the registration process. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Metro Nagar 5th Main Road?

The current guideline value of Metro Nagar 5th 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, reflecting an overall increase of 910% over this period.

What is the land classification for Metro Nagar 5th Main Road?

Metro Nagar 5th Main Road is classified as Residential Class III Type - I.

Where is the Sub Registrar Office located for this area?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,74,500.