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Guideline Value

Corporate

Guideline Value for Sri Venkateshwara Nagar Main Road

₹2750/sq.ft.

The guideline value for Sri Venkateshwara Nagar Main Road 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 ₹204 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹186 /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 Sri Venkateshwara Nagar Main Road

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Sri Venkateshwara Nagar Main Road guideline value

The current guideline value of Sri Venkateshwara Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sri Venkateshwara Nagar Main Road has changed

The guideline value for Sri Venkateshwara Nagar Main Road has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 186 per sq.ft. This increased to Rs 204 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. By 2012, the value was recorded at Rs 2,500 per sq.ft, but it decreased to Rs 1,675 per sq.ft in 2017. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1,378%. Notably, there was a 525% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Maduravoyal

Within 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, placing Sri Venkateshwara Nagar Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in Sri Venkateshwara Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to 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 duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Venkateshwara Nagar Main Road?

The Sub Registrar Office that covers Sri Venkateshwara Nagar 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the transaction value. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price. Conversely, if the sale price is lower, the duty is charged on the guideline value.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar Main Road?

The current guideline value of Sri Venkateshwara Nagar Main Road 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 over the years, increasing from Rs 186 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,378%.

What is the land classification for Sri Venkateshwara Nagar Main Road?

The land classification for Sri Venkateshwara Nagar Main Road is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Venkateshwara Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at 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.