Guideline Value for Valliammai Nagar 1st Street (Ward 23)

Valliammai Nagar 1st Street (Ward 23) guideline value

The current guideline value of Valliammai Nagar 1st Street (Ward 23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Valliammai Nagar 1st Street (Ward 23) has changed

Over the years, the guideline value for Valliammai Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from Rs 804 per sq.ft in the 2017 revision. The value then increased to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% rise.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 in this area is Rs 1,600 per sq.ft, placing Valliammai Nagar 1st Street's 2024 figure below that median.

• Valliammai Nagar 2nd Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Valliammai Nagar 3rd Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Valliammai Nagar: Rs 1,300 per sq.ft (2024)
• Valliammai Nagar Extension: Rs 1,600 per sq.ft (2024)
• Valliammai Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Valluvar Colony: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammai Nagar 1st Street (Ward 23)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please 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 Valliammai Nagar 1st Street (Ward 23)?

The Sub Registrar Office covering Valliammai Nagar 1st Street (Ward 23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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 payable during the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Valliammai Nagar 1st Street (Ward 23)?

The current guideline value of Valliammai Nagar 1st Street (Ward 23) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing various fluctuations over the years.

What are the stamp duty and registration fees for property in Valliammai Nagar 1st Street?

For a 1,000 sq.ft plot, the guideline value is Rs 13,00,000. The stamp duty is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Valliammai Nagar 1st Street?

The Madhavaram Sub Registrar Office handles property registrations for Valliammai Nagar 1st Street (Ward 23), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Valliammai Nagar 1st Street?

Valliammai Nagar 1st Street is classified as Residential Class III Type - I under the Madhavaram SRO.