Guideline Value

Corporate

Guideline Value for Metro Nagar 6th Main Road

₹3050/sq.ft.

The guideline value for Metro Nagar 6th 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 6th Main Road

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Metro Nagar 6th Main Road guideline value

The current guideline value of Metro Nagar 6th 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 6th Main Road has changed

The guideline value for Metro Nagar 6th 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 to Rs 500 per sq.ft in 2007, and then significantly jumped to Rs 2,750 per sq.ft in 2012. However, it decreased to Rs 1,842 per sq.ft in 2017. The value then increased again to Rs 2,750 per sq.ft in 2023, and finally reached Rs 3,050 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the overall increase is 910%. The changes between revisions include an increase of 10% from 2002 to 2003, a rise of 51% from 2003 to 2007, a significant increase of 450% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a rise of 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 11%.

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 guideline value is Rs 3,050 per sq.ft, and Metro Nagar 6th Main Road's 2024 figure is equal to this median.

Stamp duty and registration fee for property in Metro Nagar 6th 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, the total cost would be Rs 2,74,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Metro Nagar 6th Main Road?

The Sub Registrar Office that covers Metro Nagar 6th 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 a crucial role in the registration of property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Metro Nagar 6th Main Road?

The current guideline value of Metro Nagar 6th 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, reflecting an overall increase of 910% over this period.

What is the stamp duty rate for properties in Metro Nagar 6th Main Road?

The stamp duty rate for properties in Metro Nagar 6th Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Metro Nagar 6th 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 calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.