Guideline Value for V.G.P.Amudha Nagar 1st Main Road

V.G.P.Amudha Nagar 1st Main Road guideline value

The current guideline value of V.G.P.Amudha Nagar 1st Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of V.G.P.Amudha Nagar 1st Main Road has changed

The guideline value for V.G.P.Amudha Nagar 1st Main Road has seen significant changes over the years. Starting with the 2002 revision, the guideline value was Rs 194 per sq.ft. This increased to Rs 213 per sq.ft in 2003, marking a 10% rise. The value then jumped to Rs 500 per sq.ft in 2007, which was an increase of 135%. In 2012, it was recorded at Rs 4,500 per sq.ft, representing an 800% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 3,015 per sq.ft, a drop of 33% from 2012. The value then rose again to Rs 4,500 per sq.ft in 2023, and finally, in the 2024 revision, it reached Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 2452%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, placing V.G.P.Amudha Nagar 1st Main Road's 2024 figure above that median.

• V.G.P.Amudha Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• V.G.P.Amudha Nagar 2nd Main Road: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 4th Cross Street: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 5th Cross Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Amudha Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. 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 detailed calculations.

Which Sub Registrar Office covers V.G.P.Amudha Nagar 1st Main Road?

The Sub Registrar Office that covers V.G.P.Amudha Nagar 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.G.P.Amudha Nagar 1st Main Road?

The current guideline value of V.G.P.Amudha Nagar 1st Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 194 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 2452%.

What is the land classification for V.G.P.Amudha Nagar 1st Main Road?

The land classification for V.G.P.Amudha Nagar 1st Main Road is Residential Special Type - I.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Where is the Sub Registrar Office located for V.G.P.Amudha Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.