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Guideline Value

Corporate

Guideline Value for VIMALA NAGAR 2ND CROSS STREET

₹2750/sq.ft.

The guideline value for Vimala Nagar 2nd Cross Street in Medavakkam village (Chennai South Joint I 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 Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
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 N/A
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)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[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 Vimala Nagar 2nd Cross Street

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Vimala Nagar 2nd Cross Street guideline value

The current guideline value of Vimala Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO, classified as Commercial Class I Type - III.

How the guideline value of Vimala Nagar 2nd Cross Street has changed

The guideline value of Vimala Nagar 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further to Rs 2,750 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vimala Nagar 2nd Cross Street above this median.

Stamp duty and registration fee for property in Vimala Nagar 2nd Cross 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 to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vimala Nagar 2nd Cross Street?

The Sub Registrar Office that covers Vimala Nagar 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Vimala Nagar 2nd Cross Street?

The current guideline value of Vimala Nagar 2nd Cross 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Vimala Nagar 2nd Cross Street?

Vimala Nagar 2nd Cross Street is classified as Commercial Class I Type - III.

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

The Sub Registrar Office for Vimala Nagar 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.