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Guideline Value

Corporate

Guideline Value for West Mada Veedhi 1st Street

₹3050/sq.ft.

The guideline value for West Mada Veedhi 1st Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 3050 per sq.ft, effective 1 July 2024. It was Rs 2750 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹3050 /sq.ft.
From 1-4-2023 ₹2750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1842 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2750 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹400 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹365 /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 West Mada Veedhi 1st Street

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West Mada Veedhi 1st Street guideline value

The current guideline value of West Mada Veedhi 1st Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of West Mada Veedhi 1st Street has changed

The guideline value for West Mada Veedhi 1st Street has seen several revisions over the years. In the 2002 revision, the value was Rs 365 per sq.ft. This increased to Rs 400 per sq.ft in 2003, followed by a rise to Rs 500 per sq.ft in 2007. The value then jumped significantly to Rs 2,750 per sq.ft in the 2012 revision. However, it decreased to Rs 1,842 per sq.ft in 2017. The value was Rs 2,750 per sq.ft again in the 2023 revision, before reaching the current figure of Rs 3,050 per sq.ft in 2024.

Between the revisions, the most notable changes include an increase of 450% from 2007 to 2012, and a decrease of 33% from 2012 to 2017. From 2017 to 2023, there was an increase of 49%, followed by an increase of 11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 736%.

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 is Rs 3,050 per sq.ft, which is equal to the 2024 figure for West Mada Veedhi 1st Street.

Stamp duty and registration fee for property in West Mada Veedhi 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value would be Rs 30,50,000. The stamp duty at 7% would amount to Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, making the total of these charges Rs 2,74,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Mada Veedhi 1st Street?

The Sub Registrar Office that covers West Mada Veedhi 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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, as it determines the minimum value at which the property can be registered. This value is used by the registration office to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must ensure that the sale price meets or exceeds the guideline value to avoid any legal issues during registration. The guideline value serves as a benchmark for property transactions, ensuring transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of West Mada Veedhi 1st Street?

The current guideline value of West Mada Veedhi 1st Street is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 365 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 736% over the years.

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

For a property valued at Rs 30,50,000, the stamp duty would be Rs 2,13,500 and the registration fee would be Rs 61,000, totaling Rs 2,74,500.

Which Sub Registrar Office is responsible for West Mada Veedhi 1st Street?

The Virugambakkam Sub Registrar Office is responsible for West Mada Veedhi 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for West Mada Veedhi 1st Street?

The land classification for West Mada Veedhi 1st Street is Residential Class III Type - I.