Guideline Value for V.P. Sindhan Nagar

V.P. Sindhan Nagar guideline value

The current guideline value of V.P. Sindhan Nagar is Rs 1,300 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 III Type - I.

How the guideline value of V.P. Sindhan Nagar has changed

Over the years, the guideline value of V.P. Sindhan Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is a significant increase from Rs 804 per sq.ft in the 2017 revision. The 2012 revision recorded a value of Rs 1,200 per sq.ft. Notably, the register has no figures for the years 2023, 2007, 2003, and 2002.

When comparing the revisions, the change from 2017 to 2024 reflects a rise of 62%, while the shift from 2012 to 2017 shows a decrease of 33%. Overall, from 2012 to 2024, there has been a slight increase of 8% in the guideline value.

Guideline values in Madhavaram

In Madhavaram village, 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, with a median value of Rs 1,600 per sq.ft. V.P. Sindhan Nagar's current guideline value is below this median.

• V.R. Deenadayalan Nagar: Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 1st Street ( Ward No.14 ): Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 2nd Street ( Ward No.14 ): Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.P. Sindhan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers V.P. Sindhan Nagar?

The Sub Registrar Office that covers V.P. Sindhan Nagar 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 is a crucial factor when buying or selling property in Madhavaram. It serves as a reference point for determining the value of the property and is used to calculate the stamp duty and registration fees during the registration process.

When a property is registered, the guideline value helps ensure that the transaction is documented at an appropriate value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.P. Sindhan Nagar?

The current guideline value of V.P. Sindhan Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002.

What is the land classification for V.P. Sindhan Nagar?

V.P. Sindhan Nagar is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in V.P. Sindhan Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office for V.P. Sindhan Nagar located?

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