Guideline Value for Vadavandai Madaveethi Street

Vadavandai Madaveethi Street guideline value

The current guideline value of Vadavandai Madaveethi Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kovur village under the Kunrathur SRO, and the land classification is Residential Special Type - I.

How the guideline value of Vadavandai Madaveethi Street has changed

The guideline value for Vadavandai Madaveethi Street has seen several revisions over the years. In 2003, the value was Rs 122 per sq.ft, which increased to Rs 250 per sq.ft in 2007. This was a significant rise of 105%. The value then jumped to Rs 1,500 per sq.ft in 2012, marking a 500% increase from the previous revision. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The guideline value rose again to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,252%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kovur

Kovur village has a total of 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Vadavandai Madaveethi Street.

• Vasudevan Nagar: Rs 1,320 per sq.ft (2024)
• Vatchala Avenue: Rs 1,650 per sq.ft (2024)
• V.B.R. Avenue: Rs 1,650 per sq.ft (2024)
• V.B.R.Avenue Extn: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• Vgn Summerdale Phase II: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vadavandai Madaveethi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadavandai Madaveethi Street?

The Sub Registrar Office that covers Vadavandai Madaveethi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kovur

The guideline value is a crucial factor in the registration process when buying or selling property in Kovur. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two amounts is used to calculate the applicable duties and fees, ensuring that the registration process aligns with the established values in the area.

Frequently asked questions

What is the current guideline value of Vadavandai Madaveethi Street?

The current guideline value of Vadavandai Madaveethi Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 122 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, which represents an overall increase of 1,252%.

What is the land classification for Vadavandai Madaveethi Street?

The land classification for Vadavandai Madaveethi Street is Residential Special Type - I.

Where can I find the registration office for Vadavandai Madaveethi Street?

The registration office for Vadavandai Madaveethi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Vadavandai Madaveethi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total cost of Rs 1,48,500 for stamp duty and registration fees combined.