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Guideline Value

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Guideline Value for Vasantha Nagar, Ponniammanmedu (Ward-24)

₹2200/sq.ft.

The guideline value for Vasantha Nagar, Ponniammanmedu (ward-24) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
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 Vasantha Nagar, Ponniammanmedu (ward-24)

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Vasantha Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Vasantha Nagar, Ponniammanmedu (Ward-24) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class I Type - I. The guideline value is set by the Madhavaram SRO.

How the guideline value of Vasantha Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Vasantha Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was followed by a significant increase to Rs 2,000 per sq.ft in 2023, and then a further rise to Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year. The overall change from 2012 to 2024 shows a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street. The fluctuations in the guideline value reflect changes in the local real estate landscape.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with the 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, placing Vasantha Nagar's 2024 figure above this median.

Stamp duty and registration fee for property in Vasantha Nagar, Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantha Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Vasantha Nagar, Ponniammanmedu (Ward-24) 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 plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantha Nagar, Ponniammanmedu (Ward-24)?

The current guideline value of Vasantha Nagar, Ponniammanmedu (Ward-24) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 2,200 per sq.ft in 2024. It was Rs 2,000 per sq.ft in 2023, Rs 1,340 per sq.ft in 2017, and Rs 2,000 per sq.ft in 2012.

What is the land classification for Vasantha Nagar?

Vasantha Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Which Sub Registrar Office should I visit for transactions in Vasantha Nagar?

The Madhavaram Sub Registrar Office is responsible for transactions in Vasantha Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property in Vasantha Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.