Guideline Value for S.S. Vasan Street

S.S. Vasan Street guideline value

The current guideline value of S.S. Vasan Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of S.S. Vasan Street has changed

Over the years, the guideline value of S.S. Vasan Street has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following that, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it has been revised to Rs 1,300 per sq.ft in 2024, reflecting an increase of 8% from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 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, with a median value of Rs 1,600 per sq.ft. The guideline value of S.S. Vasan Street is below this median.

• S.S.V.Koil St (Ward No.8): Rs 1,300 per sq.ft (2024)
• S.S. Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• S.S. Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• S.S. Koil Street: Rs 1,300 per sq.ft (2024)
• St. Francis Colony: Rs 2,200 per sq.ft (2024)
• St.Francis Colony (Ward No.19): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in S.S. Vasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers S.S. Vasan Street?

The Sub Registrar Office that covers S.S. Vasan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. This means that buyers should be aware of the current guideline value to accurately estimate the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of S.S. Vasan Street?

The current guideline value of S.S. Vasan Street 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 to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the other streets in Madhavaram with the same guideline value?

Other streets in Madhavaram with the same guideline value of Rs 1,300 per sq.ft for 2024 include S.S.V.Koil St, S.S. Nagar (Ward-02), S.S. Nagar (Ward-01), and S.S. Koil Street.

What is the registration fee for property in S.S. Vasan Street?

The registration fee for property in S.S. Vasan Street is calculated at 2% of the guideline value. For a plot valued at Rs 13,00,000, the registration fee would be Rs 26,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO online.