Guideline Value for Vijayalakshmi Complex (Periya Sekkadu)

Vijayalakshmi Complex (Periya Sekkadu) guideline value

The current guideline value of Vijayalakshmi Complex (Periya Sekkadu) is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Vijayalakshmi Complex (Periya Sekkadu) has changed

The guideline value for Vijayalakshmi Complex (Periya Sekkadu) has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was set at Rs 1,200 per sq.ft. Following this, the 2024 revision increased the guideline value by 8% to Rs 1,300 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street. The increase from 2012 to 2024 reflects the only recorded change in the guideline value for this property.

Guideline values in Madhavaram

The 2024 guideline values for properties in Madhavaram range 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 of Vijayalakshmi Complex (Periya Sekkadu) at Rs 1,300 per sq.ft is below the median for the village.

• Vignesh Nagar (Ward-29): Rs 1,600 per sq.ft (2024)
• Vignesh Nagar, Vinayagapuram (Ward-29): Rs 1,600 per sq.ft (2024)
• Vignesh Apartments, MRH Road (Ward-10): Rs 2,200 per sq.ft (2024)
• Vidya Nagar, Ponniammanmedu (Ward-23): Rs 2,700 per sq.ft (2024)
• Vidya Nagar: Rs 2,700 per sq.ft (2024)
• Victory Field (Ward-18): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Complex (Periya Sekkadu)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to 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 or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vijayalakshmi Complex (Periya Sekkadu)?

The Vijayalakshmi Complex (Periya Sekkadu) falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

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

Frequently asked questions

What is the current guideline value of Vijayalakshmi Complex (Periya Sekkadu)?

The current guideline value of Vijayalakshmi Complex (Periya Sekkadu) 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 Vijayalakshmi Complex (Periya Sekkadu) was Rs 1,200 per sq.ft in 2012 and increased to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification of Vijayalakshmi Complex (Periya Sekkadu)?

Vijayalakshmi Complex (Periya Sekkadu) is classified as Residential Class III Type - I. This classification is important for understanding the type of property and its potential uses.

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

For a property measuring 1,000 sq.ft at the guideline value of Rs 1,300 per sq.ft, the total guideline value is 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.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area, including Vijayalakshmi Complex (Periya Sekkadu).