Guideline Value for Vadaveniamman Nagar 4th Street

Vadaveniamman Nagar 4th Street guideline value

The current guideline value of Vadaveniamman Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Vadaveniamman Nagar 4th Street has changed

The guideline value for Vadaveniamman Nagar 4th Street has undergone several revisions over the years. Starting from Rs 117 per sq.ft in 2002, it increased to Rs 128 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, which was a 213% increase. Following this, it rose dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 400% increase. However, the value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 set the value at Rs 2,000 per sq.ft, marking a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 2,200 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 represents an increase of 1,780% in the guideline value for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Vadaveniamman Nagar 4th Street's 2024 figure below that median.

• Vadaveniamman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vadavenni Amman Nagar: Rs 3,050 per sq.ft (2024)
• Vadaveniamman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vadaveniamman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vallalar Street: Rs 2,200 per sq.ft (2024)
• T.V.K.Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vadaveniamman Nagar 4th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadaveniamman Nagar 4th Street?

The Sub Registrar Office that covers Vadaveniamman Nagar 4th 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 crucial factor in property registration in Maduravoyal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions. Buyers and sellers must consider the guideline value when negotiating sale prices, as it directly impacts the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties and fees. This means that even if the sale price is lower than the guideline value, the higher figure will be used to determine the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vadaveniamman Nagar 4th Street?

The current guideline value of Vadaveniamman Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 117 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,780% over the years.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office located for Vadaveniamman Nagar 4th Street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What other streets have similar guideline values in Maduravoyal?

Other streets in Maduravoyal, such as Vadaveniamman Nagar 3rd Street, Vadaveniamman Nagar 2nd Street, and Vadaveniamman Nagar 1st Street, all have a guideline value of Rs 2,200 per sq.ft for 2024.