Guideline Value for Soorappattu Road (Vinayagapuram)

Soorappattu Road (Vinayagapuram) guideline value

The current guideline value of Soorappattu Road (Vinayagapuram) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Soorappattu Road (Vinayagapuram) has changed

In the 2012 revision, the guideline value was recorded at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also listed the value at Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. There are no figures available for the revisions from the years 2002, 2003, 2007, and 2017 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 guideline value for these streets is Rs 1,600 per sq.ft, making the 2024 figure for Soorappattu Road (Vinayagapuram) below the median.

• Soorapat Road (Ward-29): Rs 1,300 per sq.ft (2024)
• S.M.B. Nagar (Ward-11): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar (Ward-14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 4th st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Sree Nagar (Ward-04): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 4th Cross St (Ward 14): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Soorappattu Road (Vinayagapuram)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Soorappattu Road (Vinayagapuram)?

The Sub Registrar Office that covers Soorappattu Road (Vinayagapuram) 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 an essential factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. It is crucial for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Soorappattu Road (Vinayagapuram)?

The current guideline value of Soorappattu Road (Vinayagapuram) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 8% to Rs 1,300 per sq.ft in 2024. The value remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023.

What is the land classification for Soorappattu Road (Vinayagapuram)?

The land classification for Soorappattu Road (Vinayagapuram) is Residential Class III Type - I.

What are the stamp duty rates for property in Madhavaram?

The stamp duty rate for property in Madhavaram is 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.