Guideline Value for Varadharajan Nagar (Ponniamman Medu)

Varadharajan Nagar (Ponniamman Medu) guideline value

The current guideline value of Varadharajan Nagar (Ponniamman Medu) 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 Varadharajan Nagar (Ponniamman Medu) has changed

The guideline value for Varadharajan Nagar has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This increased to Rs 1,500 per sq.ft in 2023, marking a 25% rise. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 33%. This consistent rise indicates a steady adjustment in the valuation of properties in this area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which matches the 2024 figure for Varadharajan Nagar.

• Varadharajan Nagar: Rs 1,600 per sq.ft (2024)
• Varadaraja Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Vasantha Colony (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Vasantham Avenue: Rs 1,600 per sq.ft (2024)
• Vasantham Avenue (Ward-09): Rs 1,600 per sq.ft (2024)
• Vasantham Garden Phase- III: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajan Nagar (Ponniamman Medu)

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 be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadharajan Nagar (Ponniamman Medu)?

The Sub Registrar Office that covers Varadharajan Nagar (Ponniamman Medu) 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 plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that are applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction reflects the official valuation set by the local authorities, providing a standardized approach to property registration.

Frequently asked questions

What is the current guideline value of Varadharajan Nagar?

The current guideline value of Varadharajan Nagar (Ponniamman Medu) 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 increased from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, representing a total increase of 33% over this period.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Which Sub Registrar Office covers Varadharajan Nagar?

The Madhavaram Sub Registrar Office covers Varadharajan Nagar (Ponniamman Medu), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Varadharajan Nagar?

The land classification for Varadharajan Nagar (Ponniamman Medu) is Residential Class II Type - I.