Guideline Value for Vatchala Avenue

Vatchala Avenue guideline value

The current guideline value of Vatchala Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Vatchala Avenue has changed

Looking at the historical revisions, the guideline value for Vatchala Avenue has seen several changes over the years. In 2007, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,200 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The value from 2012 to 2017 saw a decrease of 33%. The substantial rise from 2007 to 2012 was 390%. Overall, from 2007 to 2024, the guideline value has increased by 390%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, making Vatchala Avenue's current guideline value equal to this median.

• Vatchala Nagar: Rs 1,200 per sq.ft (2024)
• Varatharajalu Enclave: Rs 1,300 per sq.ft (2024)
• Vengadeswara Avenue: Rs 1,200 per sq.ft (2024)
• Vettrivel Nagar: Rs 1,200 per sq.ft (2024)
• Vignesh Avenue: Rs 1,200 per sq.ft (2024)
• Vignesh Avenue Extn: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vatchala Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vatchala Avenue?

The Sub Registrar Office that covers Vatchala Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. The stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher, ensuring compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vatchala Avenue?

The current guideline value of Vatchala Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, and remaining at Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification for Vatchala Avenue?

The land classification for Vatchala Avenue is Commercial Special Type - I, indicating its designated use within the area.

Which Sub Registrar Office covers the area of Vatchala Avenue?

The Gooduvancheri Sub Registrar Office covers Vatchala Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vatchala Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000.