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Guideline Value

Corporate

Guideline Value for Venkateswara Colony (Ward-04)

₹1600/sq.ft.

The guideline value for Venkateswara Colony (ward-04) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Venkateswara Colony (ward-04)

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Venkateswara Colony (Ward-04) guideline value

The current guideline value of Venkateswara Colony (Ward-04) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Colony (Ward-04) has changed

The guideline value for Venkateswara Colony (Ward-04) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase of 7% from the previous year's figure of Rs 1,500 per sq.ft established in 2023. Prior to these revisions, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value rose from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. The historical data shows that there are no recorded figures for the revisions in the years mentioned, indicating a lack of updates for this specific street during those periods.

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 for Venkateswara Colony (Ward-04) is equal to this median.

Stamp duty and registration fee for property in Venkateswara Colony (Ward-04)

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, totaling Rs 1,44,000. 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 Venkateswara Colony (Ward-04)?

The Sub Registrar Office that covers Venkateswara Colony (Ward-04) 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 plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Colony (Ward-04)?

The current guideline value of Venkateswara Colony (Ward-04) 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 2023 to Rs 1,600 per sq.ft in 2024, marking a 7% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Venkateswara Colony (Ward-04)?

Venkateswara Colony (Ward-04) is classified as Residential Class II Type - I. This classification is important for determining the guideline value and other regulatory aspects.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.

How is the stamp duty calculated in Venkateswara Colony (Ward-04)?

Stamp duty in Venkateswara Colony (Ward-04) is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.