Guideline Value

Corporate

Guideline Value for Metro Nagar 5th Cross Street

₹3050/sq.ft.

The guideline value for Metro Nagar 5th 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 N/A
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 Cross Street

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Metro Nagar 5th Cross Street guideline value

The current guideline value of Metro Nagar 5th 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Metro Nagar 5th Cross Street has changed

The guideline value for Metro Nagar 5th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 300 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a significant rise of 67%. In 2012, the value remained at Rs 2,750 per sq.ft, showing no figure for 2002. The value then decreased to Rs 1,842 per sq.ft in 2017, reflecting a decline of 33% from 2012. The 2023 revision saw a substantial increase to Rs 2,750 per sq.ft, and the latest revision in 2024 has set the value at Rs 3,050 per sq.ft, which is an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 917%. The changes between the revisions highlight the fluctuations in property values over the years, with the most significant increase occurring between 2007 and 2012, where the value jumped by 450%.

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 5th Cross Street.

Stamp duty and registration fee for property in Metro Nagar 5th 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 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Metro Nagar 5th Cross Street?

The Sub Registrar Office that covers Metro Nagar 5th 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 during 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. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. 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 5th Cross Street?

The current guideline value of Metro Nagar 5th 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 300 per sq.ft in 2003 to Rs 3,050 per sq.ft in 2024, marking an overall increase of 917% over the years.

What is the land classification for Metro Nagar 5th Cross Street?

Metro Nagar 5th Cross Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,74,500.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Metro Nagar 5th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.