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Guideline Value

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Guideline Value for Vajravel Nagar 2nd Cross St ( Ward No.24 )

₹2200/sq.ft.

The guideline value for Vajravel Nagar 2nd Cross St ( Ward No.24 ) in Madhavaram village (Madhavaram 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 I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class I 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 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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 Vajravel Nagar 2nd Cross St ( Ward No.24 )

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Vajravel Nagar 2nd Cross St ( Ward No.24 ) guideline value

The current guideline value for Vajravel Nagar 2nd Cross St ( Ward No.24 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vajravel Nagar 2nd Cross St ( Ward No.24 ) has changed

The guideline value for Vajravel Nagar 2nd Cross St has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which changed to Rs 1,340 per sq.ft in 2017. This was a decrease of 11%. The 2023 revision raised the value to Rs 2,000 per sq.ft, marking an increase of 49% from the previous figure. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% rise from 2023.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Vajravel Nagar 2nd Cross St is above this median.

Stamp duty and registration fee for property in Vajravel Nagar 2nd Cross St ( Ward No.24 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vajravel Nagar 2nd Cross St ( Ward No.24 )?

The Sub Registrar Office that covers Vajravel Nagar 2nd Cross St ( Ward No.24 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value for Vajravel Nagar 2nd Cross St?

The current guideline value for Vajravel Nagar 2nd Cross St ( Ward No.24 ) 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 from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vajravel Nagar 2nd Cross St?

The land classification for Vajravel Nagar 2nd Cross St is Residential Class I Type - I.

What is the stamp duty for property in Vajravel Nagar 2nd Cross St?

The stamp duty for property in Vajravel Nagar 2nd Cross St is 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.