Guideline Value

Corporate

Guideline Value for Viswasnagar Main Road

₹2750/sq.ft.

The guideline value for Viswasnagar Main Road in Maduravoyal village (Virugambakkam 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 Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class IV Type - I
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 ₹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 Viswasnagar Main Road

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Viswasnagar Main Road guideline value

The current guideline value of Viswasnagar Main Road is Rs 2,750 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 IV Type - I.

How the guideline value of Viswasnagar Main Road has changed

The guideline value for Viswasnagar Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 237 per sq.ft, which increased to Rs 260 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then a dramatic increase to Rs 2,500 per sq.ft in 2012. However, the value decreased to Rs 1,675 per sq.ft in 2017. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft from the 2024 revision.

The changes between these revisions are notable. From 2002 to 2024, the overall increase is +1060%. The rise from 2017 to 2023 was +49%, while the value dropped by -33% from 2012 to 2017. The increase from 2007 to 2012 was +525%, and from 2003 to 2007, it was +54%. Lastly, the change from 2002 to 2003 was +10%.

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 value for these streets is Rs 3,050 per sq.ft, placing Viswasnagar Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in Viswasnagar Main Road

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, making the total 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 further calculations.

Which Sub Registrar Office covers Viswasnagar Main Road?

The Sub Registrar Office that covers Viswasnagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Maduravoyal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers should be aware that the guideline value can influence the overall cost of property transactions.

When a property is registered, the guideline value is compared against the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Viswasnagar Main Road?

The current guideline value of Viswasnagar Main Road 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 significantly from Rs 237 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1060% over this period.

What is the stamp duty rate for property in Viswasnagar Main Road?

The stamp duty rate for property transactions in Viswasnagar Main Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Viswasnagar Main Road?

The Sub Registrar Office for Viswasnagar Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the guideline values of other streets in Maduravoyal?

Other streets in Maduravoyal under the Virugambakkam SRO have a 2024 guideline value of Rs 3,050 per sq.ft. These include West Mada Veedhi 1st Street, West Mada Veedhi 2nd Street, West Mada Veedhi 3rd Street, West Mada Veedhi 4th Street, West Mada Veedhi 5th Street, and West Mada Veedhi Main Road.