Guideline Value for Valarmathi Nagar, Vinayagapuram (Ward-29)

Valarmathi Nagar, Vinayagapuram (Ward-29) guideline value

The current guideline value of Valarmathi Nagar, Vinayagapuram (Ward-29) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class II Type - I, governed by the Madhavaram SRO.

How the guideline value of Valarmathi Nagar, Vinayagapuram (Ward-29) has changed

The guideline value for Valarmathi Nagar has seen several revisions over the years. The 2012 revision recorded a value of Rs 1,200 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 25% rise. The most recent 2024 revision has set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 33%. This consistent rise indicates a significant change in the valuation of properties in Valarmathi Nagar over the 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 guideline value is Rs 1,600 per sq.ft, which aligns with the current value of Valarmathi Nagar.

• Valarmathi Nagar Extension: 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, Vinayagapuram (Ward-29)

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, bringing the total to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valarmathi Nagar, Vinayagapuram (Ward-29)?

The Sub Registrar Office that covers Valarmathi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit this link.

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

The guideline value is a critical factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buyers or sellers engage in property transactions, the guideline value is assessed to ensure that the transaction is recorded accurately. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Valarmathi Nagar?

The current guideline value of Valarmathi Nagar, Vinayagapuram (Ward-29) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,600 per sq.ft in 2024, marking an overall increase of 33%.

Which Sub Registrar Office should I approach for property transactions in Valarmathi Nagar?

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

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

How is the guideline value determined in Madhavaram?

The guideline value in Madhavaram is determined based on a range of factors and is reviewed periodically. It serves as a standard for calculating stamp duty and registration fees during property transactions.