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Guideline Value

Corporate

Guideline Value for VIMALA NAGAR 3RD CROSS STREET

₹2750/sq.ft.

The guideline value for Vimala Nagar 3rd 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 3rd Cross Street

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Vimala Nagar 3rd Cross Street guideline value

The current guideline value of Vimala Nagar 3rd 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. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Vimala Nagar 3rd Cross Street has changed

The guideline value for Vimala Nagar 3rd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, placing Vimala Nagar 3rd Cross Street above this median.

Stamp duty and registration fee for property in Vimala Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the 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, totaling Rs 2,47,500. It is important to note that 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 Vimala Nagar 3rd Cross Street?

The Sub Registrar Office that covers Vimala Nagar 3rd 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 using this link.

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

The guideline value is crucial during property transactions in Medavakkam as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay at the time of registration.

When selling a property, the guideline value ensures that the transaction is recorded at a value that reflects the official assessment of the property’s worth, which helps in maintaining transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Vimala Nagar 3rd Cross Street?

The current guideline value of Vimala Nagar 3rd 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 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500. This is based on the guideline value of Rs 2,750 per sq.ft.

Which Sub Registrar Office is responsible for Vimala Nagar 3rd Cross Street?

The Chennai South Joint I Sub Registrar Office is responsible for Vimala Nagar 3rd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

Where does Vimala Nagar 3rd Cross Street stand among other streets in Medavakkam?

Vimala Nagar 3rd Cross Street has a guideline value of Rs 2,750 per sq.ft, which is above the median value of Rs 2,200 per sq.ft for other streets in Medavakkam under the Chennai South Joint I SRO.