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Guideline Value

Corporate

Guideline Value for West Mada Veedhi 5th Street

₹3050/sq.ft.

The guideline value for West Mada Veedhi 5th 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 5th Street

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West Mada Veedhi 5th Street guideline value

The current guideline value of West Mada Veedhi 5th Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of West Mada Veedhi 5th Street has changed

Over the years, the guideline value for West Mada Veedhi 5th Street has seen significant changes. The earliest recorded figure in the register is from 2002, with a guideline value of 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 to Rs 2,750 per sq.ft in 2012, before decreasing to Rs 1,842 per sq.ft in 2017. The 2023 revision set the value at Rs 2,750 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,050 per sq.ft.

In terms of changes, from 2002 to 2003, there was a 10% increase. The increase from 2003 to 2007 was 25%, followed by a substantial rise of 450% from 2007 to 2012. However, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an 11% increase, resulting in an overall increase of 736% from 2002 to 2024.

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 among these streets is Rs 3,050 per sq.ft, which aligns with the guideline value of West Mada Veedhi 5th Street.

Stamp duty and registration fee for property in West Mada Veedhi 5th 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 cost for these fees to Rs 2,74,500. It is important to note that the 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 5th Street?

The Sub Registrar Office that covers West Mada Veedhi 5th 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 plays a crucial role in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the transaction.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of West Mada Veedhi 5th Street?

The current guideline value of West Mada Veedhi 5th 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, with various increases and one decrease recorded in between.

What is the land classification for West Mada Veedhi 5th Street?

West Mada Veedhi 5th Street is classified as Residential Class III Type - I.

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.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.