Guideline Value for Valarmathi Nagar Extension

Valarmathi Nagar Extension guideline value

The current guideline value of Valarmathi Nagar Extension is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Valarmathi Nagar Extension has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the latest revision in 2024, which saw an increase of 33%, bringing the current guideline value to Rs 1,600 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street. The absence of these figures indicates a lack of recorded changes in the guideline value during those years.

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. The median value for these streets is Rs 1,600 per sq.ft, which aligns with the guideline value for Valarmathi Nagar Extension.

• Valarmathi Nagar, Vinayagapuram (Ward-29): Rs 1,600 per sq.ft (2024)
• Valarmathi Nagar: Rs 1,600 per sq.ft (2024)
• Vajravel Nagar Main Road (Ward No.24): Rs 2,200 per sq.ft (2024)
• Vajravel Nagar 4th St (Ward No.24): Rs 2,200 per sq.ft (2024)
• Vajravel Nagar 3rd St (Ward No.24): Rs 2,200 per sq.ft (2024)
• Vajravel Nagar 3rd Cross St (Ward No.24): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Valarmathi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, resulting in a total of Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator to estimate fees for your property transaction.

Which Sub Registrar Office covers Valarmathi Nagar Extension?

The Sub Registrar Office that covers Valarmathi Nagar Extension 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 property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Valarmathi Nagar Extension?

The current guideline value of Valarmathi Nagar Extension is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, marking a 33% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification of Valarmathi Nagar Extension?

Valarmathi Nagar Extension is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

How is stamp duty calculated in Valarmathi Nagar Extension?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would amount to Rs 1,12,000.

Where can I find the Sub Registrar Office for Valarmathi Nagar Extension?

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