Guideline Value for Vadivel Nagar

Vadivel Nagar guideline value

The current guideline value of Vadivel Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Vadivel Nagar has changed

Over the years, the guideline value of Vadivel Nagar has undergone several revisions. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% rise.

Thus, the most recent revision shows an upward adjustment in the guideline value. The 2024 figure of Rs 1,300 per sq.ft is the only available data for this street, following the 2023 figure of Rs 1,200 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that the guideline value for Vadivel Nagar is below the median.

• Vadivel Nagar, Ponniammanmedu (Ward-24): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vadivel Nagar?

The Sub Registrar Office that covers Vadivel Nagar 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 plays a crucial role in property transactions in Madhavaram. It serves as the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vadivel Nagar?

The current guideline value of Vadivel Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Vadivel Nagar was Rs 1,200 per sq.ft in 2023, which increased by 8% to Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Vadivel Nagar?

Vadivel Nagar is classified as Residential Class III Type - I according to the local land classification standards.

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

For a property valued at the current guideline value of Rs 1,300 per sq.ft, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000 for a 1,000 sq.ft plot.

Which office handles property registrations for Vadivel Nagar?

The Madhavaram Sub Registrar Office is responsible for property registrations in Vadivel Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.