Guideline Value for Vedhagiri Rao Avenue

Vedhagiri Rao Avenue guideline value

The current guideline value of Vedhagiri Rao Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vedhagiri Rao Avenue has changed

Looking at the revisions, the guideline value for Vedhagiri Rao Avenue has seen several changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and finally rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no 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 that carry a 2024 guideline value ranging 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 of Vedhagiri Rao Avenue is below this median.

• Veerapandian St, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Veerapandian Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Veerapandian st ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Vasu Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Vasu Nagar 4th Street (Ward-23): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhagiri Rao Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vedhagiri Rao Avenue?

The Sub Registrar Office that covers Vedhagiri Rao Avenue 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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is properly registered with the authorities.

This process helps in maintaining transparency in property transactions and ensures that all legal requirements are met. It is essential for buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vedhagiri Rao Avenue?

The current guideline value of Vedhagiri Rao Avenue 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, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Vedhagiri Rao Avenue?

Vedhagiri Rao Avenue is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Vedhagiri Rao Avenue?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Vedhagiri Rao Avenue?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Vedhagiri Rao Avenue.