Guideline Value for Valmiki Nagar (Ward-29)

Valmiki Nagar (Ward-29) guideline value

The current guideline value of Valmiki Nagar (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Valmiki Nagar (Ward-29) has changed

The guideline value for Valmiki Nagar has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 804 per sq.ft. With the 2024 revision, it increased to Rs 1,300 per sq.ft, marking a change of +62% from the 2017 figure. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

To summarize, the only revisions available for Valmiki Nagar are from 2017 and 2024. The increase in guideline value reflects the changes made in the latest revision, which is effective from July 2024.

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, with the median being Rs 1,600 per sq.ft. Valmiki Nagar's 2024 figure is below this median.

• Vanasakthi Nagar: Rs 1,300 per sq.ft (2024)
• Vanasakthi Nagar Extension: Rs 1,300 per sq.ft (2024)
• Vanasakthi Nagar, Ponniammanmedu (Ward-24): 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)
• Valliammai Nagar Extension: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Valmiki Nagar (Ward-29)

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, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valmiki Nagar (Ward-29)?

The Sub Registrar Office that covers Valmiki Nagar (Ward-29) 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 crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is legally compliant. Buyers and sellers should be aware of the guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Valmiki Nagar (Ward-29)?

The current guideline value of Valmiki Nagar (Ward-29) 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 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, representing an increase of +62%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Valmiki Nagar?

Valmiki Nagar falls under the Residential Class III Type - I land classification. This classification is important for understanding the purpose and potential of the land.

What are the stamp duty and registration fees for property in Valmiki Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft, the total guideline value is 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 Valmiki Nagar?

The Sub Registrar Office for Valmiki Nagar (Ward-29) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO through the provided link.