Guideline Value for Sri Vinayaga Nagar

Sri Vinayaga Nagar guideline value

The current guideline value of Sri Vinayaga Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Vinayaga Nagar has changed

The guideline value for Sri Vinayaga Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,600 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 7% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a net increase of 7%.

Guideline values in Madhavaram

In Madhavaram village, 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, which is equal to the current figure for Sri Vinayaga Nagar.

• Sri Vinayaga Nagar Extension: Rs 1,600 per sq.ft (2024)
• Sri Vignesh Nagar: Rs 1,300 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 1,300 per sq.ft (2024)
• S.S. Koil Street: Rs 1,300 per sq.ft (2024)
• S.S. Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• S.S. Nagar (Ward-02): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vinayaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, calculated at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Thus, the total cost for stamp duty and registration would be Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vinayaga Nagar?

Sri Vinayaga Nagar falls under the jurisdiction of 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 plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Sri Vinayaga Nagar?

The current guideline value of Sri Vinayaga Nagar 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, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Sri Vinayaga Nagar?

Sri Vinayaga Nagar is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the total fees would include a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000.