Guideline Value

Corporate

Guideline Value for Metro Nagar Alapakkam Main Road

₹5500/sq.ft.

The guideline value for Metro Nagar Alapakkam Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Mixed Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Mixed Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /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 Alapakkam Main Road

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Metro Nagar Alapakkam Main Road guideline value

The current guideline value of Metro Nagar Alapakkam Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Mixed Special Type - I.

How the guideline value of Metro Nagar Alapakkam Main Road has changed

The guideline value for Metro Nagar Alapakkam Main Road has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 274 per sq.ft. This increased to Rs 300 per sq.ft in 2003, marking a 9% rise. By 2007, the value saw a significant jump to Rs 500 per sq.ft, representing a 67% increase. In 2012, the value rose dramatically to Rs 5,000 per sq.ft, which was a 900% increase from the previous revision.

In the following years, the guideline value continued to change. The 2017 revision recorded a decrease to Rs 3,350 per sq.ft, a drop of 33%. However, from 2017 to 2023, the value increased to Rs 5,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for the area is Rs 3,050 per sq.ft, placing Metro Nagar Alapakkam Main Road above this median.

Stamp duty and registration fee for property in Metro Nagar Alapakkam Main Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Metro Nagar Alapakkam Main Road?

The Sub Registrar Office that covers Metro Nagar Alapakkam 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 is a crucial factor in property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that both parties are aware of the costs involved.

At the time of registration, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is documented accurately and complies with local regulations.

Frequently asked questions

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

The current guideline value of Metro Nagar Alapakkam Main Road is Rs 5,500 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 5,500 per sq.ft in 2024, reflecting an overall increase of 1907% over the years.

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

The stamp duty rate for properties in Metro Nagar Alapakkam Main Road is 7% of the guideline value or the 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 median guideline value for streets in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, with Metro Nagar Alapakkam Main Road being above this median at Rs 5,500 per sq.ft.