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Guideline Value

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Guideline Value for Varadaraja Nagar, Ponniammanmedu (Ward-23)

₹1600/sq.ft.

The guideline value for Varadaraja Nagar, Ponniammanmedu (ward-23) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Varadaraja Nagar, Ponniammanmedu (ward-23)

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Varadaraja Nagar, Ponniammanmedu (Ward-23) guideline value

The current guideline value of Varadaraja Nagar, Ponniammanmedu (Ward-23) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Varadaraja Nagar, Ponniammanmedu (Ward-23) has changed

The guideline value for Varadaraja Nagar, Ponniammanmedu 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 1,500 per sq.ft, and it increased to Rs 1,600 per sq.ft in the 2024 revision, marking a change of +7%.

The 2024 revision's guideline value of Rs 1,600 per sq.ft aligns with the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO. This indicates that Varadaraja Nagar, Ponniammanmedu is positioned at the median level for guideline values in the area.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values, with figures varying from Rs 1,300 to Rs 7,500 per sq.ft as of the 2024 revision. The median value is Rs 1,600 per sq.ft, which is the same as the current guideline value for Varadaraja Nagar, Ponniammanmedu.

Stamp duty and registration fee for property in Varadaraja Nagar, Ponniammanmedu (Ward-23)

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, making the total cost Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadaraja Nagar, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Varadaraja Nagar, Ponniammanmedu (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is important to note that the stamp duty is calculated based on the higher of the guideline value or the sale price, which ensures that all transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Varadaraja Nagar, Ponniammanmedu (Ward-23)?

The current guideline value of Varadaraja Nagar, Ponniammanmedu (Ward-23) 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, reflecting a +7% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 in the register.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is the same as the current guideline value for Varadaraja Nagar, Ponniammanmedu.

What are the stamp duty rates for properties in Varadaraja Nagar?

The stamp duty for properties in Varadaraja Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.

Where is the Sub Registrar Office for Varadaraja Nagar located?

The Sub Registrar Office covering Varadaraja Nagar, Ponniammanmedu (Ward-23) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.