Guideline Value for V.R.D. Nagar 2nd Cross Street

V.R.D. Nagar 2nd Cross Street guideline value

The current guideline value of V.R.D. Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of V.R.D. Nagar 2nd Cross Street has changed

The guideline value for V.R.D. Nagar 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally, it rose to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for V.R.D. Nagar 2nd Cross Street is above this median.

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

Stamp duty and registration fee for property in V.R.D. Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on the fees applicable to your property.

Which Sub Registrar Office covers V.R.D. Nagar 2nd Cross Street?

The Sub Registrar Office covering V.R.D. Nagar 2nd Cross Street 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 an important factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of V.R.D. Nagar 2nd Cross Street?

The current guideline value of V.R.D. Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for V.R.D. Nagar 2nd Cross Street?

The land classification for V.R.D. Nagar 2nd Cross Street is Residential Class I Type - I.

What are the other streets in Madhavaram with the same guideline value?

Other streets in Madhavaram, such as V.R.D. Nagar 1st Street, V.R.D. Nagar 2nd Street, V.R.D. Nagar 1st Cross Street, V.R.D. Nagar 3rd Cross Street, V.R. Deenadayalan Nagar, and V.R.D. Nagar 3rd Street, all have a guideline value of Rs 2,200 per sq.ft in 2024.

Where can I find the Madhavaram Sub Registrar Office?

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