Guideline Value for V.P.C. Nagar Extension

V.P.C. Nagar Extension guideline value

The current guideline value of V.P.C. Nagar Extension is Rs 1,600 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 II Type - I.

How the guideline value of V.P.C. Nagar Extension has changed

Over the years, the guideline value for V.P.C. Nagar Extension has seen significant changes. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 brought the guideline value to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

From the 2017 revision to the 2024 revision, the overall increase is 59%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

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 value is Rs 1,600 per sq.ft, which is equal to the current guideline value for V.P.C. Nagar Extension.

• V.P.C. Nagar (Ponniamman Medu): Rs 2,200 per sq.ft (2024)
• V.P.C. Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• V.O.C. St (Ward No.27): 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.17): Rs 1,600 per sq.ft (2024)
• V.O.C. St (Ward No.16): Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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 to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers V.P.C. Nagar Extension?

The V.P.C. Nagar Extension is covered by 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 in the registration of property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of the transaction. This value is regularly revised, reflecting changes in the real estate market and local developments.

Frequently asked questions

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

The current guideline value of V.P.C. Nagar Extension is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,600 per sq.ft in 2024, which is a 59% increase overall. The most recent revision in 2024 saw a 7% increase from the previous year.

What is the land classification for V.P.C. Nagar Extension?

V.P.C. Nagar Extension is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in V.P.C. Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,44,000 in duties and fees.