Guideline Value for Vadavenni Amman Nagar

Vadavenni Amman Nagar guideline value

The current guideline value of Vadavenni Amman Nagar is Rs 3,050 per sq.ft, effective from 1 July 2024. This area is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Vadavenni Amman Nagar has changed

Over the years, the guideline value of Vadavenni Amman Nagar has seen several revisions. The 2012 revision set the value at Rs 2,750 per sq.ft, which was then reduced to Rs 1,842 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,750 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,050 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 11% in the guideline value per sq.ft.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, which is equal to the 2024 figure for Vadavenni Amman Nagar.

• Vadaveniamman Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Vadaveniamman Nagar 3rd Street: Rs 2,200 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 Vadavenni Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value amounts to Rs 30,50,000. The stamp duty at 7% would be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, bringing the total to Rs 2,74,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadavenni Amman Nagar?

The Sub Registrar Office that covers Vadavenni Amman Nagar 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 details.

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

The guideline value is a crucial factor in property transactions in Maduravoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives due taxes on property sales.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vadavenni Amman Nagar?

The current guideline value of Vadavenni Amman Nagar is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,750 per sq.ft in 2012 to Rs 1,842 per sq.ft in 2017, then back to Rs 2,750 per sq.ft in 2023, and finally reaching Rs 3,050 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Vadavenni Amman Nagar?

For a property valued at Rs 30,50,000, the stamp duty would be Rs 2,13,500 and the registration fee would be Rs 61,000, totaling Rs 2,74,500.

Which Sub Registrar Office is responsible for Vadavenni Amman Nagar?

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

What is the land classification of Vadavenni Amman Nagar?

Vadavenni Amman Nagar is classified as Residential Class III Type - I, indicating its intended use for residential purposes.