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Guideline Value

Corporate

Guideline Value for West Mada Veedhi 4th Street

₹3050/sq.ft.

The guideline value for West Mada Veedhi 4th 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 4th Street

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West Mada Veedhi 4th Street guideline value

The current guideline value of West Mada Veedhi 4th 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 4th Street has changed

The guideline value for West Mada Veedhi 4th Street has undergone several revisions over the years. The earliest figure available is from 2002, when the guideline 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 saw a significant jump to Rs 2,750 per sq.ft in 2012, before dropping to Rs 1,842 per sq.ft in 2017. The guideline value then rose sharply to Rs 2,750 per sq.ft in 2023, and currently stands at Rs 3,050 per sq.ft as of the 2024 revision.

Looking at the changes between these revisions, the guideline value increased by 10% from 2002 to 2003, followed by a 25% rise from 2003 to 2007. After a massive increase of 450% from 2007 to 2012, the value decreased by 33% from 2012 to 2017. A significant increase of 49% was observed from 2017 to 2023, followed by an 11% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 736%.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 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 for these streets is Rs 3,050 per sq.ft, which is equal to the current value of West Mada Veedhi 4th Street.

Stamp duty and registration fee for property in West Mada Veedhi 4th Street

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

Which Sub Registrar Office covers West Mada Veedhi 4th Street?

The Sub Registrar Office that covers West Mada Veedhi 4th 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 information.

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

The guideline value is a crucial factor when registering a property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you buy or sell a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of West Mada Veedhi 4th Street?

The current guideline value of West Mada Veedhi 4th 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 significantly 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 office handles property registrations for West Mada Veedhi 4th Street?

The Virugambakkam Sub Registrar Office handles property registrations for West Mada Veedhi 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for West Mada Veedhi 4th Street?

The land classification for West Mada Veedhi 4th Street is Residential Class III Type - I.