Guideline Value for Valliammai Nagar Extension

Valliammai Nagar Extension guideline value

The current guideline value of Valliammai 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 Valliammai Nagar Extension has changed

The guideline value for Valliammai Nagar Extension has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, reflecting a change of +7%. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, which marked a significant increase of +49% from the 2012 figure of Rs 1,500 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +7%. The 2012 figure of Rs 1,500 per sq.ft decreased to Rs 1,005 per sq.ft in 2017 before rising again to the current rate.

Guideline values in Madhavaram

In Madhavaram village, there are 1946 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 is Rs 1,600 per sq.ft, which aligns with the guideline value of Valliammai Nagar Extension.

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

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

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valliammai Nagar Extension?

The Valliammai Nagar Extension falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Valliammai Nagar Extension?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Valliammai Nagar Extension?

Valliammai Nagar Extension is classified as Residential Class II Type - I.

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

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.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.