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Guideline Value

Corporate

Guideline Value for Vajravel Nagar 1st St (Ward-24)

₹2200/sq.ft.

The guideline value for Vajravel Nagar 1st St (ward-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 N/A
From 1-4-2012 To 8-6-2017 N/A
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 1st St (ward-24)

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Vajravel Nagar 1st St (Ward-24) guideline value

The current guideline value of Vajravel Nagar 1st St (Ward-24) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vajravel Nagar 1st St (Ward-24) has changed

The guideline value for Vajravel Nagar 1st St (Ward-24) has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This change reflects a notable increase in the guideline value, moving from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The increase indicates a rise in the valuation of properties in this area, aligning with the overall trend seen in the Madhavaram region.

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 for these streets is Rs 1,600 per sq.ft, placing Vajravel Nagar 1st St (Ward-24) above this median.

Stamp duty and registration fee for property in Vajravel Nagar 1st St (Ward-24)

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vajravel Nagar 1st St (Ward-24)?

The Vajravel Nagar 1st St (Ward-24) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fair pricing in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This helps in maintaining consistency in property valuations across the region.

Frequently asked questions

What is the current guideline value of Vajravel Nagar 1st St (Ward-24)?

The current guideline value of Vajravel Nagar 1st St (Ward-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 for Vajravel Nagar 1st St (Ward-24) was Rs 2,000 per sq.ft in 2023 and increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Vajravel Nagar 1st St (Ward-24)?

The Madhavaram Sub Registrar Office covers Vajravel Nagar 1st St (Ward-24), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value for streets in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft. Vajravel Nagar 1st St (Ward-24) has a guideline value above this median, currently set at Rs 2,200 per sq.ft.