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Guideline Value

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Guideline Value for Victory Field (Near MRH Road) (Ward-16)

₹1300/sq.ft.

The guideline value for Victory Field (near Mrh Road) (ward-16) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. 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 N/A
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 Victory Field (near Mrh Road) (ward-16)

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Victory Field (Near MRH Road) (Ward-16) guideline value

The current guideline value of Victory Field (Near MRH Road) (Ward-16) is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Victory Field (Near MRH Road) (Ward-16) has changed

The guideline value for Victory Field has undergone several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 1,200 per sq.ft. However, this figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a significant drop of 33%. The most recent revision in 2024 saw an increase to Rs 1,300 per sq.ft, representing a rise of 62% from the 2017 figure.

Overall, when comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2023.

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 Victory Field (Near MRH Road) is below this median.

Stamp duty and registration fee for property in Victory Field (Near MRH Road) (Ward-16)

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 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 Victory Field (Near MRH Road) (Ward-16)?

The Sub Registrar Office covering Victory Field (Near MRH Road) (Ward-16) 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 is a crucial factor during property registration in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing or selling property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. This ensures that all legal requirements are met during the registration process, safeguarding the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Victory Field (Near MRH Road)?

The current guideline value of Victory Field (Near MRH Road) (Ward-16) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes. It was Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and has now increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Victory Field?

Victory Field (Near MRH Road) (Ward-16) is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Victory Field?

The Sub Registrar Office for Victory Field (Near MRH Road) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.