Guideline Value for Vasu Nagar 4th Street (Ward-23)

Vasu Nagar 4th Street (Ward-23) guideline value

The current guideline value of Vasu Nagar 4th Street (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street 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 Vasu Nagar 4th Street (Ward-23) has changed

The guideline value for Vasu Nagar 4th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase of 62% from the 2017 revision of Rs 804 per sq.ft. Prior to that, the 2012 revision listed the value at Rs 1,200 per sq.ft, marking a decrease of 33% from the 2017 figure.

Overall, comparing the 2012 revision to the current 2024 value, there has been a slight increase of 8%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madhavaram

In Madhavaram village, the guideline values for 2024 range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Vasu Nagar 4th Street is below this median.

• Vasu Nagar 3rd Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Vasu Nagar 2nd Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar 1st Street, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasuki Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vasu Nagar 4th Street (Ward-23)

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, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vasu Nagar 4th Street (Ward-23)?

The Sub Registrar Office that covers Vasu Nagar 4th Street (Ward-23) 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 when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in official documents.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the registration process. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vasu Nagar 4th Street (Ward-23)?

The current guideline value of Vasu Nagar 4th Street (Ward-23) 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then to Rs 1,300 per sq.ft in 2024, reflecting a 62% increase from 2017 to 2024.

What is the land classification of Vasu Nagar 4th Street (Ward-23)?

Vasu Nagar 4th Street (Ward-23) falls under the Residential Class III Type - I land classification.

Which Sub Registrar Office covers Vasu Nagar 4th Street (Ward-23)?

The Madhavaram Sub Registrar Office covers Vasu Nagar 4th Street (Ward-23), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Vasu Nagar 4th Street (Ward-23)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 91,000.