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Guideline Value for RAJIV GANDHI NAGAR - Muthumariamman Koil Street

₹2200/sq.ft.

The guideline value for Rajiv Gandhi Nagar - Muthumariamman Koil Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹120 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹109 /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 Rajiv Gandhi Nagar - Muthumariamman Koil Street

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RAJIV GANDHI NAGAR - Muthumariamman Koil Street guideline value

The current guideline value for RAJIV GANDHI NAGAR - Muthumariamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of RAJIV GANDHI NAGAR - Muthumariamman Koil Street has changed

The guideline value for this street has seen several revisions over the years. The earliest recorded value was Rs 109 per sq.ft in 2002, which increased to Rs 120 per sq.ft in 2003. Following this, there was a significant rise to Rs 300 per sq.ft in 2007, and the value further increased to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and most recently, it has been set at Rs 2,200 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the guideline value has increased by a total of 1,918%. Notably, the jump from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023 represents a 49% increase, while the rise from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024 is a 10% increase. The register has no figures for this street for the years not mentioned.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft in 2024. The median guideline value for these streets is Rs 3,050 per sq.ft, indicating that RAJIV GANDHI NAGAR - Muthumariamman Koil Street's 2024 figure is below this median.

Stamp duty and registration fee for property in RAJIV GANDHI NAGAR - Muthumariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the 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 RAJIV GANDHI NAGAR - Muthumariamman Koil Street?

The RAJIV GANDHI NAGAR - Muthumariamman Koil Street is covered by 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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for RAJIV GANDHI NAGAR - Muthumariamman Koil Street?

The current guideline value for RAJIV GANDHI NAGAR - Muthumariamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 109 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,918% over the years.

What is the registration office for this street?

The registration office for RAJIV GANDHI NAGAR - Muthumariamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.

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 RAJIV GANDHI NAGAR - Muthumariamman Koil Street's 2024 figure being below this median.