Guideline Value for Valliammai Nagar 3rd Street (Ward 23)

Valliammai Nagar 3rd Street (Ward 23) guideline value

The current guideline value of Valliammai Nagar 3rd Street (Ward 23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Valliammai Nagar 3rd Street (Ward 23) has changed

The guideline value for Valliammai Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision, marking a -33% change. In the subsequent 2023 revision, the value increased to Rs 1,200 per sq.ft, followed by an increase to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register 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 as of 2024. The median value for these streets is Rs 1,600 per sq.ft, indicating that Valliammai Nagar 3rd Street's 2024 figure is below the median.

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

Stamp duty and registration fee for property in Valliammai Nagar 3rd Street (Ward 23)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to 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 Valliammai Nagar 3rd Street (Ward 23)?

The Sub Registrar Office that covers Valliammai Nagar 3rd Street (Ward 23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the value of the property for stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is registered at a value that reflects the current market conditions.

Frequently asked questions

What is the current guideline value for Valliammai Nagar 3rd Street?

The current guideline value for Valliammai Nagar 3rd 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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Valliammai Nagar 3rd Street?

The land classification for Valliammai Nagar 3rd Street is Residential Class III Type - I.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for Valliammai Nagar 3rd Street?

The Madhavaram Sub Registrar Office covers Valliammai Nagar 3rd Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.