Guideline Value for V.R.H. Road ( Ward No.26 )

V.R.H. Road ( Ward No.26 ) guideline value

The current guideline value of V.R.H. Road ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of V.R.H. Road ( Ward No.26 ) has changed

The guideline value for V.R.H. Road has seen several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,200 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2024 revision, marking an increase of 8%.

Prior to the 2023 revision, the guideline value for this street was not available in the register. The current value of Rs 1,300 per sq.ft is below the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

The guideline values in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as of the 2024 revision. The median value stands at Rs 1,600 per sq.ft, indicating that V.R.H. Road's current value is below this median. Below are some other streets in Madhavaram:

• V.R.D. Nagar (Ward-14): Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar Main Road ( Ward No.14 ): Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 6th Street ( Ward No.14 ): Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 5th Street ( Ward No.14 ): Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 5th Cross Street (Ward 14): Rs 2,200 per sq.ft (2024)
• V.R.D. Nagar 4th Street ( Ward No.14 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in V.R.H. Road ( Ward No.26 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be 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, bringing the total to Rs 1,17,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.R.H. Road ( Ward No.26 )?

The Sub Registrar Office that covers V.R.H. Road ( Ward No.26 ) 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 during property registration in Madhavaram. It serves as a reference point for calculating the stamp duty and registration fees, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately and transparently in the property register.

Frequently asked questions

What is the current guideline value of V.R.H. Road ( Ward No.26 )?

The current guideline value of V.R.H. Road ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current value of V.R.H. Road.

What are the stamp duty and registration fees for properties in V.R.H. Road?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for V.R.H. Road?

The Madhavaram Sub Registrar Office covers V.R.H. Road and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.