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Guideline Value

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Guideline Value for Subramani Nagar, Vinayagapuram (Ward-29)

₹1600/sq.ft.

The guideline value for Subramani Nagar, Vinayagapuram (ward-29) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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 Subramani Nagar, Vinayagapuram (ward-29)

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Subramani Nagar, Vinayagapuram (Ward-29) guideline value

The current guideline value of Subramani Nagar, Vinayagapuram (Ward-29) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class II Type - I. The guideline value is set by the Madhavaram Sub Registrar Office (SRO).

How the guideline value of Subramani Nagar, Vinayagapuram (Ward-29) has changed

Over the years, the guideline value of Subramani Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft. However, in 2017, it decreased to Rs 1,005 per sq.ft, marking a significant decline of 33%. The most recent revision in 2024 saw a substantial increase to Rs 1,600 per sq.ft, reflecting a 59% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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 is Rs 1,600 per sq.ft, which is equal to the current value of Subramani Nagar.

Stamp duty and registration fee for property in Subramani Nagar, Vinayagapuram (Ward-29)

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. Therefore, the total cost for stamp duty and registration fee together would be Rs 1,44,000. Duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Subramani Nagar, Vinayagapuram (Ward-29)?

The Sub Registrar Office that covers Subramani Nagar, Vinayagapuram (Ward-29) is 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 is used to determine the stamp duty and registration fees that buyers must pay during the purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Subramani Nagar, Vinayagapuram (Ward-29)?

The current guideline value of Subramani Nagar, Vinayagapuram (Ward-29) 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 to Rs 1,600 per sq.ft in 2024. This reflects a 59% increase from 2017 to 2024 and a 7% increase overall from 2012 to 2024.

What is the land classification of Subramani Nagar?

Subramani Nagar is classified as Residential Class II Type - I. This classification is important for understanding the type of development permissible in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Subramani Nagar, Vinayagapuram (Ward-29) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.