Guideline Value for V.G.P.Amudha Nagar 1st Cross Street

V.G.P.Amudha Nagar 1st Cross Street guideline value

The current guideline value of V.G.P.Amudha Nagar 1st Cross Street 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 Cross Street has changed

The guideline value for V.G.P.Amudha Nagar 1st Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 194 per sq.ft. In 2003, it increased to Rs 213 per sq.ft, marking a change of +10%. The 2007 revision saw a significant jump to Rs 500 per sq.ft, which is a rise of +135%. However, in 2012, the value dropped to Rs 4,500 per sq.ft, reflecting a decrease of -33%. The 2017 revision brought it back up to Rs 3,015 per sq.ft, with a notable increase of +49%. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent 2024 revision has established the current guideline value at Rs 4,950 per sq.ft, which is an increase of +10% from the previous year.

There are no figures available for the revisions from years not mentioned in the list. The overall change from 2002 to 2024 shows a substantial increase of +2452% in the guideline value per sq.ft.

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 for these streets is Rs 3,050 per sq.ft, placing V.G.P.Amudha Nagar 1st Cross Street above this median.

• V.G.P.Amudha Nagar 1st Main Road: 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 Cross Street

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, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.P.Amudha Nagar 1st Cross Street?

The Sub Registrar Office that covers V.G.P.Amudha Nagar 1st Cross Street 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 plays a crucial role in property transactions in Maduravoyal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

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

The current guideline value of V.G.P.Amudha Nagar 1st Cross Street 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 several times, starting from Rs 194 per sq.ft in 2002 to the current value of Rs 4,950 per sq.ft in 2024, showing an overall increase of +2452%.

What is the land classification for V.G.P.Amudha Nagar 1st Cross Street?

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

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

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

How is the stamp duty calculated for properties in V.G.P.Amudha Nagar 1st Cross Street?

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