Guideline Value for Vanitha Nagar

Vanitha Nagar guideline value

The current guideline value of Vanitha Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Vanitha Nagar has changed

The guideline value for Vanitha Nagar has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase.

As of the 2024 revision, the guideline value reflects the current rate for this street. The changes from the previous revision indicate a steady upward adjustment in the guideline value for Vanitha Nagar.

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 Vanitha Nagar's 2024 figure below that median.

• Vanasakthi Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Vanasakthi Nagar Extension: Rs 1,300 per sq.ft (2024)
• Vanasakthi Nagar: Rs 1,300 per sq.ft (2024)
• Varadaraja Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Valmiki Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Varadharajan Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vanitha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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. It is important to note that 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 Vanitha Nagar?

The Sub Registrar Office that covers Vanitha Nagar is 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 property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when registering property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vanitha Nagar?

The current guideline value of Vanitha Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vanitha Nagar was Rs 1,200 per sq.ft in 2023, which increased to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current guideline value of Vanitha Nagar.

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

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. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Vanitha Nagar?

The Madhavaram Sub Registrar Office handles registrations for Vanitha Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.