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Guideline Value

Corporate

Guideline Value for Venkateshwara Nagar Main Road

₹3600/sq.ft.

The guideline value for Venkateshwara Nagar Main Road in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3600 per sq.ft, effective 1 July 2024. It was Rs 3250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3600 /sq.ft.
From 1-4-2023 ₹3250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2177 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹260 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹237 /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 Venkateshwara Nagar Main Road

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Venkateshwara Nagar Main Road guideline value

The current guideline value of Venkateshwara Nagar Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Venkateshwara Nagar Main Road has changed

The guideline value for Venkateshwara Nagar Main Road has seen several revisions over the years. In 2002, the value was Rs 237 per sq.ft, which increased to Rs 260 per sq.ft in 2003. The value rose significantly to Rs 400 per sq.ft in 2007, and then jumped to Rs 3,250 per sq.ft in 2012. However, it decreased to Rs 2,177 per sq.ft in 2017 before rising again to Rs 3,250 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,600 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2024, the overall increase was +1,419%. The most significant change occurred from 2007 to 2012, with an increase of +713%. The value then dropped by -33% from 2012 to 2017, followed by a substantial increase of +49% from 2017 to 2023. The most recent change from 2023 to 2024 saw an increase of +11%.

Guideline values in Maduravoyal

In 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 in this area is Rs 3,050 per sq.ft, which means Venkateshwara Nagar Main Road's 2024 figure is above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total to Rs 3,24,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateshwara Nagar Main Road?

The Venkateshwara Nagar Main Road falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Maduravoyal, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is officially recorded.

It is crucial for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings and ensures compliance with local regulations.

Frequently asked questions

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

The current guideline value of Venkateshwara Nagar Main Road is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 237 per sq.ft in 2002 to Rs 3,600 per sq.ft in 2024, showing an overall increase of +1,419% over the years.

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

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000 and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which Sub Registrar Office handles registrations for Venkateshwara Nagar Main Road?

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

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum value for registration and calculating the associated stamp duty and registration fees. It is essential for buyers and sellers to be aware of this value during property dealings.