Guideline Value

Corporate

Guideline Value for Venu Nagar (Ward-2)

₹1300/sq.ft.

The guideline value for Venu Nagar (ward-2) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1300 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
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 Venu Nagar (ward-2)

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Venu Nagar (Ward-2) guideline value

The current guideline value for Venu Nagar (Ward-2) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Venu Nagar (Ward-2) has changed

The guideline value for Venu Nagar (Ward-2) has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was updated to Rs 1,200 per sq.ft, and then increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase in the guideline value.

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 guideline value in this village is Rs 1,600 per sq.ft, placing Venu Nagar (Ward-2) below the median value.

Stamp duty and registration fee for property in Venu Nagar (Ward-2)

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

Which Sub Registrar Office covers Venu Nagar (Ward-2)?

The Sub Registrar Office that covers Venu Nagar (Ward-2) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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 serves as a benchmark for determining the minimum value at which properties can be registered. When a buyer purchases a property, the registration process will utilize the guideline value to calculate applicable duties and fees.

During the registration of a property, the guideline value ensures that the government receives the correct revenue from property transactions. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, ensuring a fair assessment for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value for Venu Nagar (Ward-2)?

The current guideline value for Venu Nagar (Ward-2) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Venu Nagar (Ward-2) has increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What is the land classification for Venu Nagar (Ward-2)?

Venu Nagar (Ward-2) is classified as Residential Class III Type - I, indicating its suitability for residential development.

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 Venu Nagar (Ward-2).

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, the total fees for a property valued at Rs 13,00,000 would amount to Rs 1,17,000, including both stamp duty and registration fees.