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Guideline Value

Corporate

Guideline Value for Mettukuppam Gandhi street (Near Vel Nagar)

₹2750/sq.ft.

The guideline value for Mettukuppam Gandhi Street (near Vel Nagar) in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
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 Mettukuppam Gandhi Street (near Vel Nagar)

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Mettukuppam Gandhi street (Near Vel Nagar) guideline value

The current guideline value of Mettukuppam Gandhi street (Near Vel Nagar) is Rs 2,750 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 IV Type - I.

How the guideline value of Mettukuppam Gandhi street (Near Vel Nagar) has changed

The guideline value for Mettukuppam Gandhi street has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 525% rise. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent 2024 revision increased it to Rs 2,750 per sq.ft, a change of 10%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 588%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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 guideline value for these streets is Rs 3,050 per sq.ft, indicating that Mettukuppam Gandhi street's 2024 figure is below this median.

Stamp duty and registration fee for property in Mettukuppam Gandhi street (Near Vel Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. It is essential to note that the stamp 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 details.

Which Sub Registrar Office covers Mettukuppam Gandhi street (Near Vel Nagar)?

The Mettukuppam Gandhi street (Near Vel Nagar) falls under the jurisdiction of the Virugambakkam Sub Registrar Office. The office is 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 property transactions in Maduravoyal. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During the registration process, the guideline value helps establish a baseline for the property's worth, which is essential for legal documentation. Buyers and sellers should always refer to the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mettukuppam Gandhi street?

The current guideline value of Mettukuppam Gandhi street (Near Vel Nagar) is Rs 2,750 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 400 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 588% over the years.

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 Mettukuppam Gandhi street's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in Mettukuppam Gandhi street?

The stamp duty for a property valued at Rs 27,50,000 would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Mettukuppam Gandhi street?

The Virugambakkam Sub Registrar Office handles registrations for Mettukuppam Gandhi street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.