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Guideline Value

Corporate

Guideline Value for VIMALA NAGAR 4TH CROSS STREET

₹2750/sq.ft.

The guideline value for Vimala Nagar 4th 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 4th Cross Street

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Vimala Nagar 4th Cross Street guideline value

The current guideline value of Vimala Nagar 4th 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 4th Cross Street has changed

The guideline value for Vimala Nagar 4th Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking a change of +10%. Prior to that, the value was Rs 1,675 per sq.ft in 2017, reflecting a significant increase of +49% over six years.

In the earlier revisions, the value was Rs 2,500 per sq.ft in 2012, which was a decrease of -33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007. 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 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 4th Cross Street's value above this median.

Stamp duty and registration fee for property in Vimala Nagar 4th 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 cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vimala Nagar 4th Cross Street?

The Sub Registrar Office covering Vimala Nagar 4th 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 plays a critical role when buying or selling property in Medavakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vimala Nagar 4th Cross Street?

The current guideline value of Vimala Nagar 4th 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 seen several revisions, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. The value was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Vimala Nagar 4th Cross Street?

The land classification for Vimala Nagar 4th Cross Street is Commercial Class I Type - III, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Vimala Nagar 4th Cross Street?

The Sub Registrar Office for Vimala Nagar 4th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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 property 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.