Guideline Value for V.O.C. St (Ward-17)

V.O.C. St (Ward-17) guideline value

The current guideline value of V.O.C. St (Ward-17) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of V.O.C. St (Ward-17) has changed

Over the years, the guideline value for V.O.C. St (Ward-17) has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 1,600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 7%.

Guideline values in Madhavaram

In Madhavaram, 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 for the village is Rs 1,600 per sq.ft, which aligns with the current value of V.O.C. St (Ward-17).

• V.O.C. St (Ward-02): Rs 1,600 per sq.ft (2024)
• V.O.C. St (Ward-27): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.16 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.17 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.21 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.27 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.C. St (Ward-17)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.O.C. St (Ward-17)?

The Sub Registrar Office that covers V.O.C. St (Ward-17) is the Madhavaram Sub Registrar Office, 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 property transactions in Madhavaram. It is used to determine the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value serves as a benchmark for calculating the applicable fees. It is essential to verify the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of V.O.C. St (Ward-17)?

The current guideline value of V.O.C. St (Ward-17) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with recent revisions occurring in 2012, 2017, 2023, and 2024 for V.O.C. St (Ward-17).

What was the guideline value in 2017?

The guideline value for V.O.C. St (Ward-17) in 2017 was Rs 1,005 per sq.ft.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is 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, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.