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Guideline Value

Corporate

Guideline Value for Venkateswara Nagar 2nd Street

₹1600/sq.ft.

The guideline value for Venkateswara Nagar 2nd Street 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 ₹1005 /sq.ft.
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 Nagar 2nd Street

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Venkateswara Nagar 2nd Street guideline value

The current guideline value for Venkateswara Nagar 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it is classified as Residential Class II Type - I.

How the guideline value of Venkateswara Nagar 2nd Street has changed

Over the years, the guideline value of Venkateswara Nagar 2nd Street has seen several revisions. The 2017 revision recorded a guideline value of Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the current 2024 figure, there has been a total increase of 59%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 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. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the guideline value of Venkateswara Nagar 2nd Street.

Stamp duty and registration fee for property in Venkateswara Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to 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 on fees applicable to property transactions.

Which Sub Registrar Office covers Venkateswara Nagar 2nd Street?

The Venkateswara Nagar 2nd Street falls under 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 is a crucial factor in property transactions in Madhavaram. It is used by the registration authorities to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must be aware that the guideline value serves as a benchmark for these costs.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees reflect the true value of the transaction, safeguarding the interests of the state and the parties involved.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 2nd Street?

The current guideline value of Venkateswara Nagar 2nd Street 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 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and now to Rs 1,600 per sq.ft in 2024. This represents a 59% increase overall from 2017 to 2024.

What is the classification of Venkateswara Nagar 2nd Street?

Venkateswara Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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 property registrations for Venkateswara Nagar 2nd Street.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, if the guideline value is Rs 16,00,000, the stamp duty would be calculated on this amount unless the sale price is higher.