Guideline Value for Vengadeswara Aveune

Vengadeswara Aveune guideline value

The current guideline value of Vengadeswara Aveune is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Gooduvancheri Sub Registrar Office (SRO). The land classification for this area is Commercial Special Type - I.

How the guideline value of Vengadeswara Aveune has changed

In the 2017 revision, the guideline value for Vengadeswara Aveune was Rs 804 per sq.ft. This value remained unchanged at Rs 1,200 per sq.ft in the 2023 revision and continues to be Rs 1,200 per sq.ft in the 2024 revision, reflecting a 49% increase from the 2017 figure. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%, and the overall change from 2017 to 2024 also stands at 49%. The guideline value has thus stabilized at Rs 1,200 per sq.ft since 2023.

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, with the median being Rs 1,200 per sq.ft. Vengadeswara Aveune's 2024 figure aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vengadeswara Aveune?

The Vengadeswara Aveune is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

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

Frequently asked questions

What is the current guideline value of Vengadeswara Aveune?

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

How has the guideline value changed over the years?

The guideline value for Vengadeswara Aveune was Rs 804 per sq.ft in 2017 and has remained at Rs 1,200 per sq.ft since the 2023 revision, showing a 49% increase from 2017 to 2024.

What is the land classification for Vengadeswara Aveune?

The land classification for Vengadeswara Aveune is Commercial Special Type - I, indicating its intended use for commercial activities.

What are the registration fees for property transactions?

The registration fees for property transactions include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Madambakkam?

The Gooduvancheri Sub Registrar Office handles property registrations in Madambakkam, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.