Guideline Value

Corporate

Guideline Value for Metro Nagar 4th Cross Street

₹3050/sq.ft.

The guideline value for Metro Nagar 4th 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 4th Cross Street

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Metro Nagar 4th Cross Street guideline value

The current guideline value of Metro Nagar 4th 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. The land classification for this area is Residential Class III Type - I.

How the guideline value of Metro Nagar 4th Cross Street has changed

The guideline value for Metro Nagar 4th Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 274 per sq.ft, which increased to Rs 300 per sq.ft in 2003. By 2007, the value saw a significant rise to Rs 500 per sq.ft. The 2012 revision brought the value back to Rs 2,750 per sq.ft, but it dropped to Rs 1,842 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,750 per sq.ft in 2023, followed by the current value of Rs 3,050 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision saw an increase of 11%. The 2012 to 2017 period experienced a decrease of 33%, while from 2007 to 2012, there was a substantial increase of 450%. The value rose by 67% from 2003 to 2007 and by 9% from 2002 to 2003. 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 is Rs 3,050 per sq.ft, which is equal to the guideline value of Metro Nagar 4th Cross Street.

Stamp duty and registration fee for property in Metro Nagar 4th 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 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 fees together 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Metro Nagar 4th Cross Street?

The Sub Registrar Office that covers Metro Nagar 4th 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 an essential factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 4th Cross Street?

The current guideline value of Metro Nagar 4th 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 from Rs 274 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1013% over the years.

What is the stamp duty rate for property in Metro Nagar 4th Cross Street?

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

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.

What is the land classification for Metro Nagar 4th Cross Street?

The land classification for Metro Nagar 4th Cross Street is Residential Class III Type - I, indicating its designated use for residential purposes.