Guideline Value for Vasudevan Thottam 1st Cross Street (Ward 21)

Vasudevan Thottam 1st Cross Street (Ward 21) guideline value

The current guideline value for Vasudevan Thottam 1st Cross Street (Ward 21) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Vasudevan Thottam 1st Cross Street (Ward 21) has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to the current Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, when comparing the 2012 revision to the current 2024 figure, there has been a 7% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 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 value is Rs 1,600 per sq.ft, which is equal to the guideline value for Vasudevan Thottam 1st Cross Street (Ward 21).

• Vasudevan Thottam 2nd Cross Street (Ward 21): Rs 1,600 per sq.ft (2024)
• Vasudevan Thottam 2nd Street (Ward-21): Rs 1,600 per sq.ft (2024)
• Vasudevan Thottam 3rd Cross Street (Ward 21): Rs 1,600 per sq.ft (2024)
• Vasudevan Mudali Street (Ponniamman Medu): Rs 1,600 per sq.ft (2024)
• Vasudevan Thottam 3rd Street (Ward-21): Rs 1,600 per sq.ft (2024)
• Vasudevan Thottam Ist Street (Ward-21): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudevan Thottam 1st Cross Street (Ward 21)

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, bringing the total to Rs 1,44,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vasudevan Thottam 1st Cross Street (Ward 21)?

The Sub Registrar Office that covers Vasudevan Thottam 1st Cross Street (Ward 21) 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 an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the minimum value for registration purposes. This ensures that the property is registered at a value that reflects its worth according to the established guidelines, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value for Vasudevan Thottam 1st Cross Street (Ward 21)?

The current guideline value for Vasudevan Thottam 1st Cross Street (Ward 21) 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 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for this street?

Vasudevan Thottam 1st Cross Street (Ward 21) is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.