Guideline Value

Corporate

Guideline Value for Venugopal Nagar (Ward-09)

₹1300/sq.ft.

The guideline value for Venugopal Nagar (ward-09) 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 ₹804 /sq.ft.
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 Venugopal Nagar (ward-09)

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Venugopal Nagar (Ward-09) guideline value

The current guideline value of Venugopal Nagar (Ward-09) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Venugopal Nagar (Ward-09) has changed

Over the years, the guideline value for Venugopal Nagar (Ward-09) has seen several revisions. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. The value then increased significantly to Rs 1,200 per sq.ft in 2023 and further rose to Rs 1,300 per sq.ft in 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 8%. Overall, comparing the values from 2012 to 2024, there has been a slight increase of 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, making the guideline value for Venugopal Nagar (Ward-09) below this median.

Stamp duty and registration fee for property in Venugopal Nagar (Ward-09)

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, totaling Rs 1,17,000. Please note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venugopal Nagar (Ward-09)?

The Sub Registrar Office that covers Venugopal Nagar (Ward-09) 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

When buying or selling property in Madhavaram, the guideline value serves as a benchmark for determining the minimum value of the property. It is crucial during the registration process, as the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

This ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venugopal Nagar (Ward-09)?

The current guideline value of Venugopal Nagar (Ward-09) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification of Venugopal Nagar (Ward-09)?

Venugopal Nagar (Ward-09) is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Venugopal Nagar (Ward-09)?

The Madhavaram Sub Registrar Office covers Venugopal Nagar (Ward-09) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Venugopal Nagar (Ward-09)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.