Guideline Value for M.P. Vedhachalam Street

M.P. Vedhachalam Street guideline value

The current guideline value of M.P. Vedhachalam Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of M.P. Vedhachalam Street has changed

Over the years, the guideline value of M.P. Vedhachalam Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the guideline value to Rs 1,600 per sq.ft, marking a 59% rise from 2017. Overall, from 2012 to 2024, there has been a slight increase of 7% in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. Therefore, the only relevant revisions are from 2012, 2017, and 2024.

Guideline values in Madhavaram

Madhavaram village has a total of 1946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, which aligns with the current guideline value of M.P. Vedhachalam Street.

• M.P. Vedha Street: Rs 1,300 per sq.ft (2024)
• M.R.H. Road: Rs 3,300 per sq.ft (2024)
• MRH Road (Ward-10): Rs 3,000 per sq.ft (2024)
• M.R.H. Road (Ward-11): Rs 3,300 per sq.ft (2024)
• MRH Road (Ward-14): Rs 3,000 per sq.ft (2024)
• MRH Road (Ward-18): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.P. Vedhachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, resulting in a total of Rs 1,44,000. It is important to note that the 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 M.P. Vedhachalam Street?

The Sub Registrar Office that covers M.P. Vedhachalam Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more assistance.

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

The guideline value plays a crucial role during property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.P. Vedhachalam Street?

The current guideline value of M.P. Vedhachalam Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in M.P. Vedhachalam Street?

The total stamp duty for a 1,000 sq.ft plot at the current guideline value would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers M.P. Vedhachalam Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers M.P. Vedhachalam Street.

What is the land classification of M.P. Vedhachalam Street?

M.P. Vedhachalam Street is classified as Residential Class II Type - I, according to the guidelines set by the government.