Guideline Value for VIRUKSHAM AVENUE

Viruksham Avenue guideline value

The current guideline value of Viruksham Avenue is Rs 775 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village under the Madurandakam SRO, classified as Residential Special Type - II.

How the guideline value of Viruksham Avenue has changed

Over the years, the guideline value of Viruksham Avenue has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the most recent 2024 revision has set it at Rs 775 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects an increase of 11%. Overall, comparing the values from 2012 to 2024, there has been an increase of 11% in the guideline value.

Guideline values in Mathuranthagam

In Mathuranthagam village, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Viruksham Avenue's 2024 figure below this median.

• Vishnu Nagar: Rs 770 per sq.ft (2024)
• V J K Nagar: Rs 1,110 per sq.ft (2024)
• Vijaya Vishnu Nagar Phase-II: Rs 775 per sq.ft (2024)
• Vijaya Vishnu Nagar: Rs 770 per sq.ft (2024)
• V.S.N.Avenue: Rs 1,110 per sq.ft (2024)
• VENGATESWARA NAGAR (190/1a/1a2b/1b): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Viruksham Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 775 per sq.ft, the total guideline value would be Rs 7,75,000. The stamp duty, charged at 7%, would amount to Rs 54,250, while the registration fee at 2% would be Rs 15,500. Together, the total fees would be Rs 69,750. 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 Viruksham Avenue?

The Sub Registrar Office that covers Viruksham Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The guideline value ensures that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Viruksham Avenue?

The current guideline value of Viruksham Avenue is Rs 775 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 775 per sq.ft in 2024.

What is the land classification for Viruksham Avenue?

Viruksham Avenue is classified as Residential Special Type - II.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Viruksham Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 69,750.