Guideline Value

Corporate

Guideline Value for V.G.K. Nagar (Ward-07)

₹1600/sq.ft.

The guideline value for V.g.k. Nagar (ward-07) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. 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 ₹1500 /sq.ft.
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 V.g.k. Nagar (ward-07)

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V.G.K. Nagar (Ward-07) guideline value

The current guideline value of V.G.K. Nagar (Ward-07) 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 V.G.K. Nagar (Ward-07) has changed

The guideline value for V.G.K. Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 saw another increase, with the guideline value rising to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

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

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value range 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 aligns with the current figure for V.G.K. Nagar.

Stamp duty and registration fee for property in V.G.K. Nagar (Ward-07)

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, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. 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 V.G.K. Nagar (Ward-07)?

The Sub Registrar Office that covers V.G.K. Nagar (Ward-07) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties establish a fair price for the transaction. 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 V.G.K. Nagar (Ward-07)?

The current guideline value of V.G.K. Nagar (Ward-07) 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 2023 to Rs 1,600 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of V.G.K. Nagar?

V.G.K. Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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 registrations for properties in the area.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration price for properties in Madhavaram. It ensures that the appropriate stamp duty and registration fees are collected during property transactions.