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Guideline Value

Corporate

Guideline Value for New Subramaniya Nagar 3rd Street

₹2750/sq.ft.

The guideline value for New Subramaniya Nagar 3rd Street 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 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹95 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹86 /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 New Subramaniya Nagar 3rd Street

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New Subramaniya Nagar 3rd Street guideline value

The current guideline value for New Subramaniya Nagar 3rd Street is Rs 2,750 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 IV Type - I land classification.

How the guideline value of New Subramaniya Nagar 3rd Street has changed

The guideline value for New Subramaniya Nagar 3rd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 86 per sq.ft. By 2003, it increased to Rs 95 per sq.ft, which was a 10% rise. The 2007 revision saw a significant jump to Rs 300 per sq.ft, marking a 216% increase. In 2012, the value adjusted to Rs 2,500 per sq.ft, showing a decrease of 733% from the previous revision. The 2017 revision brought the value back up to Rs 1,675 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent 2024 revision has established it at Rs 2,750 per sq.ft, which is a 10% increase.

It is important to note that there are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 3098%.

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, placing New Subramaniya Nagar 3rd Street's 2024 value below this median.

Stamp duty and registration fee for property in New Subramaniya Nagar 3rd Street

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 fees together to Rs 2,47,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers New Subramaniya Nagar 3rd Street?

The New Subramaniya Nagar 3rd Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Maduravoyal

When buying or selling property in Maduravoyal, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions. This value is regularly updated and reflects the prevailing market conditions as per the registration department's records.

Frequently asked questions

What is the current guideline value for New Subramaniya Nagar 3rd Street?

The current guideline value for New Subramaniya Nagar 3rd Street 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 from Rs 86 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 3098% 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 for the year 2024, which is above the value for New Subramaniya Nagar 3rd Street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value.

Which office handles registrations for New Subramaniya Nagar 3rd Street?

The Virugambakkam Sub Registrar Office handles registrations for New Subramaniya Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.