Guideline Value for Villivakkam Road, Lakshmipuram (Ward-26)

Villivakkam Road, Lakshmipuram (Ward-26) guideline value

The current guideline value of Villivakkam Road, Lakshmipuram (Ward-26) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Villivakkam Road, Lakshmipuram (Ward-26) has changed

The guideline value for Villivakkam Road was last revised in 2024 to Rs 1,600 per sq.ft, an increase of 7% from the previous revision in 2012, which was Rs 1,500 per sq.ft. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

From 2012 to 2024, the increase reflects a change in the valuation approach, aligning with the overall trends in the area. The guideline value for this street in 2024 is equal to the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO, which range from Rs 1,300 to Rs 7,500 per sq.ft.

Guideline values in Madhavaram

The guideline values for properties in Madhavaram vary significantly, with the median value being Rs 1,600 per sq.ft. Villivakkam Road, Lakshmipuram (Ward-26) is at this median value, indicating a standard pricing for the area.

• Villivakkam Road: Rs 1,600 per sq.ft (2024)
• Vinayagapuram BurialGround Rd ( Ward No.29 ): Rs 2,200 per sq.ft (2024)
• Vinayagapuram Vinayagar Koil st ( Ward No.29 ): Rs 2,200 per sq.ft (2024)
• Vinayagapuram (Ward-29): Rs 2,200 per sq.ft (2024)
• Vijay Nagar (Ward-05): Rs 1,300 per sq.ft (2024)
• Vijay Nagar Road 2nd Main Rd ( Ward No.5 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Villivakkam Road, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. Note that the 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 precise calculations based on your property details.

Which Sub Registrar Office covers Villivakkam Road, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Villivakkam Road, Lakshmipuram (Ward-26) 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 plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a basis for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Villivakkam Road, Lakshmipuram (Ward-26)?

The current guideline value of Villivakkam Road, Lakshmipuram (Ward-26) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, marking a 7% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Villivakkam Road, Lakshmipuram (Ward-26)?

Villivakkam Road, Lakshmipuram (Ward-26) is classified as Residential Class II Type - I. This classification helps determine the guideline value applicable to the properties in this area.

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 Madhavaram area.

How is stamp duty calculated in Madhavaram?

Stamp duty in Madhavaram 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 16,00,000, the stamp duty at 7% would amount to Rs 1,12,000.