Guideline Value for Vadivel Nagar, Ponniammanmedu (Ward-24)

Vadivel Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Vadivel Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I. The guideline value is determined by the Madhavaram SRO.

How the guideline value of Vadivel Nagar, Ponniammanmedu (Ward-24) has changed

In the 2023 revision, the guideline value was Rs 1,200 per sq.ft. This reflects an increase of 8% to the current value of Rs 1,300 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Vadivel Nagar are from 2023 and 2024. The increase from 2023 to 2024 indicates a significant adjustment in the guideline value for this area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Vadivel Nagar's 2024 figure below this median.

• Vadivel Nagar: Rs 1,300 per sq.ft (2024)
• Vadhiyar Thottam (Ward-13): Rs 1,300 per sq.ft (2024)
• Vajravel Nagar 1st Cross St (Ward No.24): Rs 2,200 per sq.ft (2024)
• Vajravel Nagar 1st St (Ward-24): Rs 2,200 per sq.ft (2024)
• Vajravel Nagar 2nd Cross St (Ward No.24): Rs 2,200 per sq.ft (2024)
• Vajravel Nagar 2nd St (Ward No.24): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivel Nagar, Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadivel Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Vadivel Nagar, Ponniammanmedu (Ward-24) 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 in the registration process when buying or selling property in Madhavaram. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that transactions are conducted transparently and fairly.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vadivel Nagar?

The current guideline value of Vadivel Nagar, Ponniammanmedu (Ward-24) 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 land classification for Vadivel Nagar?

Vadivel Nagar is classified as Residential Class III Type - I, which indicates its designation for residential use.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Vadivel Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft would incur a total duty of Rs 1,17,000.