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Guideline Value

Corporate

Guideline Value for Vadaveniamman Nagar 1st Street

₹2200/sq.ft.

The guideline value for Vadaveniamman Nagar 1st Street in Maduravoyal village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Maduravoyal

Village

Virugambakkam

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹128 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹117 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vadaveniamman Nagar 1st Street

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Vadaveniamman Nagar 1st Street guideline value

The current guideline value of Vadaveniamman Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Vadaveniamman Nagar 1st Street has changed

The guideline value for Vadaveniamman Nagar 1st Street has seen several revisions over the years. In 2002, the value was Rs 117 per sq.ft, which increased to Rs 128 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a substantial increase of +213%. Following this, the value jumped to Rs 2,000 per sq.ft in 2012, a remarkable increase of +400%. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of -33%. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1780%. There are no figures available for revisions in years not listed in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Vadaveniamman Nagar 1st Street is below this median.

Stamp duty and registration fee for property in Vadaveniamman Nagar 1st 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost 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.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadaveniamman Nagar 1st Street?

The Sub Registrar Office that covers Vadaveniamman Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Maduravoyal. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

During the registration of a property, buyers and sellers must consider the guideline value, as the stamp duty is charged on the higher of the guideline value or the sale price. This ensures that the transaction is fairly assessed according to the established values in the area.

Frequently asked questions

What is the current guideline value of Vadaveniamman Nagar 1st Street?

The current guideline value of Vadaveniamman Nagar 1st 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 significantly from Rs 117 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1780% over the years.

What is the registration office for Vadaveniamman Nagar 1st Street?

The registration office for Vadaveniamman Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Vadaveniamman Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.

What are the guideline values of other streets in Maduravoyal?

Other streets in Maduravoyal have varying guideline values, with rates ranging from Rs 2,200 to Rs 6,050 per sq.ft. For instance, Vadaveniamman Nagar 2nd, 3rd, and 4th Streets all have a guideline value of Rs 2,200 per sq.ft in 2024.