Guideline Value for Vengaivasal Main Road

Vengaivasal Main Road guideline value

The current guideline value of Vengaivasal Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vengaivasal Main Road has changed

The guideline value for Vengaivasal Main Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 2,000 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 2,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2017, 2007, 2003, and 2002 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The consistent value of Rs 2,000 per sq.ft from 2012 to 2023 reflects stability during that period, while the rise in 2024 marks a notable change in the guideline value for Vengaivasal Main Road.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Vengaivasal Main Road's 2024 figure below that median.

• Vengambakkam Road: Rs 1,300 per sq.ft (2024)
• Velan Nagar: Rs 1,300 per sq.ft (2024)
• Vayal Veli Street: Rs 1,300 per sq.ft (2024)
• Valter Devaraj Street: Rs 1,600 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,100 per sq.ft (2024)
• Unnamalai Nagar Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vengaivasal Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vengaivasal Main Road?

The Sub Registrar Office that covers Vengaivasal Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the 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 when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These charges are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vengaivasal Main Road?

The current guideline value of Vengaivasal Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, where the value remained at Rs 2,000 per sq.ft.

What is the registration fee for properties on Vengaivasal Main Road?

The registration fee for properties is calculated at 2% of the guideline value. For example, a property valued at Rs 22,00,000 would incur a registration fee of Rs 44,000.

Which Sub Registrar Office is responsible for Vengaivasal Main Road?

The Selaiyur Sub Registrar Office is responsible for Vengaivasal Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the other guideline values in Madambakkam?

In Madambakkam, guideline values range from Rs 1,100 to Rs 6,000 per sq.ft, with a median of Rs 2,400 per sq.ft. Vengaivasal Main Road's value of Rs 2,200 per sq.ft is below this median.