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Guideline Value

Corporate

Guideline Value for Metro Nagar 2nd Cross Street

₹3050/sq.ft.

The guideline value for Metro Nagar 2nd Cross Street 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 ₹300 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹274 /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 Cross Street

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Metro Nagar 2nd Cross Street guideline value

The current guideline value of Metro Nagar 2nd Cross Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, and the land classification is Residential Class III Type - I.

How the guideline value of Metro Nagar 2nd Cross Street has changed

The guideline value for Metro Nagar 2nd Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 274 per sq.ft. It increased to Rs 300 per sq.ft in 2003, followed by a significant jump to Rs 500 per sq.ft in 2007. The value remained at Rs 2,750 per sq.ft in 2012, then decreased to Rs 1,842 per sq.ft in 2017. The value saw a substantial rise to Rs 2,750 per sq.ft in 2023, and it has now reached Rs 3,050 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 9%. The value rose by 67% from 2003 to 2007. However, there was a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 1013%.

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 for these streets is Rs 3,050 per sq.ft, which is equal to the 2024 figure for Metro Nagar 2nd Cross Street.

Stamp duty and registration fee for property in Metro Nagar 2nd Cross Street

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 be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, making the 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Metro Nagar 2nd Cross Street?

The Sub Registrar Office that covers Metro Nagar 2nd Cross Street 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 property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. The guideline value is set by the government and reflects the minimum value at which properties can be registered.

When you are buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Metro Nagar 2nd Cross Street?

The current guideline value of Metro Nagar 2nd Cross Street 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 274 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1013% over this period.

What is the land classification for Metro Nagar 2nd Cross Street?

The land classification for Metro Nagar 2nd Cross Street is Residential Class III Type - I.

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.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.