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Guideline Value

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Guideline Value for Vajravel Nagar Main Road ( Ward No.24 )

₹2200/sq.ft.

The guideline value for Vajravel Nagar Main Road ( 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 N/A
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 Main Road ( Ward No.24 )

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Vajravel Nagar Main Road ( Ward No.24 ) guideline value

The current guideline value of Vajravel Nagar Main Road ( Ward No.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 Main Road ( Ward No.24 ) has changed

Over the years, the guideline value for Vajravel Nagar Main Road has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a 33% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 47%. This significant rise indicates a consistent upward trend in the valuation of properties along this road.

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 across these streets is Rs 1,600 per sq.ft, placing Vajravel Nagar Main Road's 2024 figure above this median.

Stamp duty and registration fee for property in Vajravel Nagar Main Road ( 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 is charged at 7%, totaling Rs 1,54,000, while the registration fee is 2%, amounting to Rs 44,000. Together, the total fees would be 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 details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vajravel Nagar Main Road ( Ward No.24 )?

The Sub Registrar Office that covers Vajravel Nagar Main Road ( Ward No.24 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

When buying or selling property in Madhavaram, the guideline value is a critical factor in determining the registration fees and stamp duty. It serves as a reference point for the value of the property, ensuring that the transaction is recorded accurately in the official documents.

During the registration process, the buyer and seller must consider the guideline value as it affects the overall costs associated with the transaction. The fees are calculated based on this value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Vajravel Nagar Main Road?

The current guideline value for Vajravel Nagar Main Road ( 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 increased from Rs 1,500 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a 47% overall increase. The most recent revision occurred in 2024, with a 10% increase from the previous year.

What are the other streets in Madhavaram with the same guideline value?

Other streets in Madhavaram with the same guideline value of Rs 2,200 per sq.ft include Vajravel Nagar 1st St, 2nd St, 2nd Cross St, 3rd St, 3rd Cross St, and 4th St, all under Ward No.24.

What is the registration fee for properties in Vajravel Nagar Main Road?

The registration fee for properties in Vajravel Nagar Main Road is calculated at 2% of the guideline value. For example, on a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Sub Registrar Office for Vajravel Nagar Main Road?

The Madhavaram Sub Registrar Office covers Vajravel Nagar Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration processes for properties in the area.