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Guideline Value

Corporate

Guideline Value for Metro Nagar 3rd Cross Street

₹3050/sq.ft.

The guideline value for Metro Nagar 3rd 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 3rd Cross Street

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Metro Nagar 3rd Cross Street guideline value

The current guideline value of Metro Nagar 3rd 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 is classified as Residential Class III Type - I.

How the guideline value of Metro Nagar 3rd Cross Street has changed

The guideline value for Metro Nagar 3rd Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 274 per sq.ft. This increased to Rs 300 per sq.ft in 2003, followed by a significant rise to Rs 500 per sq.ft in 2007. The value then saw a substantial increase to Rs 2,750 per sq.ft in 2012, but it decreased to Rs 1,842 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,750 per sq.ft, and the latest revision in 2024 set it at Rs 3,050 per sq.ft.

Between the revisions, the changes were notable. From 2002 to 2003, there was a 9% increase, followed by a 67% rise from 2003 to 2007. The value then jumped by 450% from 2007 to 2012. However, from 2012 to 2017, the value decreased by 33%. The 2023 to 2024 revision showed 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 the same as the guideline value for Metro Nagar 3rd Cross Street.

Stamp duty and registration fee for property in Metro Nagar 3rd 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 amount to Rs 2,13,500, while the registration fee at 2% would be Rs 61,000. Together, the total cost for stamp duty and registration fee would be 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 detailed calculations.

Which Sub Registrar Office covers Metro Nagar 3rd Cross Street?

The Sub Registrar Office that covers Metro Nagar 3rd 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 plays a crucial role in the registration process when buying or selling property in Maduravoyal. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Metro Nagar 3rd Cross Street?

The current guideline value of Metro Nagar 3rd 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 several times, with the most recent increase being from Rs 2,750 per sq.ft in 2023 to Rs 3,050 per sq.ft in 2024, marking an 11% increase.

What is the land classification for Metro Nagar 3rd Cross Street?

Metro Nagar 3rd Cross Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Metro Nagar 3rd Cross Street?

The Virugambakkam Sub Registrar Office covers Metro Nagar 3rd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,13,500.