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Guideline Value

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Guideline Value for Sri Nagar Colony West Mada Veedhi

₹8300/sq.ft.

The guideline value for Sri Nagar Colony West Mada Veedhi in Venkatapuram village (Adayar SRO, Chennai zone) is Rs 8300 per sq.ft, effective 1 July 2024. It was Rs 7500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Venkatapuram

Village

Adayar

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹8300 /sq.ft.
From 1-4-2023 ₹7500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹5025 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹7500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹4000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹1521 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹1414 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.161(71/6), L.b Road (dr.muthulakshmi Salai) Tnhb Building,third Floor,thiruvanmiyur,chennai-600041
044-24415011
[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 Sri Nagar Colony West Mada Veedhi

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Sri Nagar Colony West Mada Veedhi guideline value

The current guideline value of Sri Nagar Colony West Mada Veedhi is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village, under the Adayar Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Nagar Colony West Mada Veedhi has changed

The guideline value for Sri Nagar Colony West Mada Veedhi has seen several revisions over the years. In 2002, the guideline value was Rs 1,414 per sq.ft, which increased to Rs 1,521 per sq.ft in 2003. Following that, there was a significant rise to Rs 4,000 per sq.ft in 2007, and then it jumped to Rs 7,500 per sq.ft in 2012. However, this figure decreased to Rs 5,025 per sq.ft in 2017. The guideline value then increased to Rs 7,500 per sq.ft in 2023, before reaching the current value of Rs 8,300 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 revision saw a decrease of 33%. The 2007 to 2012 revision had a substantial increase of 88%, while the jump from 2003 to 2007 was even more significant at 163%. Overall, from 2002 to 2024, the guideline value has increased by 487%.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Sri Nagar Colony West Mada Veedhi is above this median.

Stamp duty and registration fee for property in Sri Nagar Colony West Mada Veedhi

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, while the registration fee at 2% would be Rs 1,66,000. Together, the total cost for stamp duty and registration fee would be Rs 7,47,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Nagar Colony West Mada Veedhi?

The Sri Nagar Colony West Mada Veedhi is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Venkatapuram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that the guideline value is a key factor in these calculations.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Nagar Colony West Mada Veedhi?

The current guideline value of Sri Nagar Colony West Mada Veedhi is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,414 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, marking an overall increase of 487% over this period.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 83,00,000. The stamp duty at 7% is Rs 5,81,000, and the registration fee at 2% is Rs 1,66,000, totaling Rs 7,47,000.

Which Sub Registrar Office covers this street?

The Adayar Sub Registrar Office covers Sri Nagar Colony West Mada Veedhi, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher amount is used for these calculations.