Guideline Value for V.G.P.Amudha Nagar 2nd Main Road

V.G.P.Amudha Nagar 2nd Main Road guideline value

The current guideline value for V.G.P.Amudha Nagar 2nd Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, and it is classified as Residential Special Type - I.

How the guideline value of V.G.P.Amudha Nagar 2nd Main Road has changed

The guideline value for V.G.P.Amudha Nagar 2nd Main Road has seen significant changes over the years. In the 2002 revision, the value was Rs 194 per sq.ft, which increased to Rs 213 per sq.ft in 2003. The value continued to rise, reaching Rs 500 per sq.ft in 2007, followed by a substantial jump to Rs 4,500 per sq.ft in 2012. However, it then dropped to Rs 3,015 per sq.ft in 2017. The most recent revisions show an increase to Rs 4,500 per sq.ft in 2023, and finally, the current value is Rs 4,950 per sq.ft in 2024.

Looking at the changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a 49% increase. The value decreased by 33% from 2012 to 2017, while it saw an impressive rise of 800% from 2007 to 2012. The increase from 2003 to 2007 was 135%, and from 2002 to 2003, it was 10%. 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, with 2024 guideline values 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 2nd Main Road above this median.

• V.G.P.Amudha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• V.G.P.Amudha Nagar 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 1st Main Road: 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 1st 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 2nd 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 would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. 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 precise calculations.

Which Sub Registrar Office covers V.G.P.Amudha Nagar 2nd Main Road?

The Sub Registrar Office that covers V.G.P.Amudha Nagar 2nd 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 when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction value. If the sale price exceeds the guideline value, the stamp duty and registration fees will be calculated based on the sale price, ensuring that the process is transparent and fair.

Frequently asked questions

What is the current guideline value for V.G.P.Amudha Nagar 2nd Main Road?

The current guideline value for V.G.P.Amudha Nagar 2nd Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much 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% over this period.

What is the land classification for V.G.P.Amudha Nagar 2nd Main Road?

V.G.P.Amudha Nagar 2nd Main Road is classified as Residential Special Type - I.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers V.G.P.Amudha Nagar 2nd Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 3,46,500.