Guideline Value for Vishnu Avenue

Vishnu Avenue guideline value

The current guideline value of Vishnu Avenue in Madambakkam village is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Commercial Special Type - I.

How the guideline value of Vishnu Avenue has changed

The guideline value for Vishnu Avenue has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 285 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 321%. However, in the subsequent revision of 2017, the value decreased to Rs 804 per sq.ft, representing a decline of 33%. The value then rose again to Rs 1,200 per sq.ft in both 2023 and the latest revision in 2024, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 321%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Vishnu Avenue's 2024 figure aligns with this median.

• Vishnu Priya Avenue: Rs 1,200 per sq.ft (2024)
• Vimal Nagar: Rs 1,200 per sq.ft (2024)
• Vimala nagar: Rs 800 per sq.ft (2024)
• Vijay Nagar: Rs 1,200 per sq.ft (2024)
• Vijay Gopal Nagar: Rs 1,200 per sq.ft (2024)
• Vignesh Avenue Extn: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, while the registration fee at 2% would be Rs 24,000, resulting in a total of Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishnu Avenue?

The Sub Registrar Office that covers Vishnu Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that both buyers and sellers are aware of the official valuation set by the government.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Vishnu Avenue?

The current guideline value of Vishnu Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 285 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, followed by a decrease to Rs 804 per sq.ft in 2017. It returned to Rs 1,200 per sq.ft in both 2023 and 2024.

What is the land classification of Vishnu Avenue?

Vishnu Avenue is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vishnu Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the stamp duty would be Rs 84,000.