Guideline Value for Gemini Vasan St (Ward-14)

Gemini Vasan St (Ward-14) guideline value

The current guideline value of Gemini Vasan St (Ward-14) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Gemini Vasan St (Ward-14) has changed

The guideline value for Gemini Vasan St has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a drop of 33%. In 2023, the value increased to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the guideline value of Gemini Vasan St below this median.

• Gemini Ss Vasan Street (Ward-10): Rs 1,300 per sq.ft (2024)
• Gemini Nagar st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Gayathri Nagar,Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Gayathiri Nagar: Rs 1,300 per sq.ft (2024)
• Gannesan Nagar: Rs 1,600 per sq.ft (2024)
• G.N.T. Road (Nellore High Road): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gemini Vasan St (Ward-14)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 Gemini Vasan St (Ward-14)?

The Sub Registrar Office that covers Gemini Vasan St (Ward-14) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gemini Vasan St (Ward-14)?

The current guideline value of Gemini Vasan St (Ward-14) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Gemini Vasan St (Ward-14)?

Gemini Vasan St (Ward-14) falls under the Residential Class III Type - I land classification.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles registrations for properties in Madhavaram?

The Madhavaram Sub Registrar Office handles registrations for properties in Madhavaram, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.