Guideline Value for Chakrapani Street (Ponniamman Medu)

Chakrapani Street (Ponniamman Medu) guideline value

The current guideline value of Chakrapani Street (Ponniamman Medu) is Rs 1,300 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 III Type - I.

How the guideline value of Chakrapani Street (Ponniamman Medu) has changed

The guideline value for Chakrapani Street (Ponniamman Medu) has undergone several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 804 per sq.ft. This figure increased to Rs 1,200 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 62%.

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. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Chakrapani Street's 2024 figure is below this median.

• Chakrapani Salai (Ward No.23): Rs 1,300 per sq.ft (2024)
• Chamundeeswari Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Chandra Prabhu Colony (Ward-20): Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout & 1st cross st (Ward No.20): Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 2nd Main Rd (Ward No.20): Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 3rd Main Road (Ward No.20): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chakrapani Street (Ponniamman Medu)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is 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, totaling Rs 1,17,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Chakrapani Street (Ponniamman Medu)?

The Sub Registrar Office that covers Chakrapani Street (Ponniamman Medu) 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 benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory expenses in the registration process. Buyers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Chakrapani Street (Ponniamman Medu)?

The current guideline value of Chakrapani Street (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is an overall increase of 62%.

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

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.

Which office handles property registrations for Chakrapani Street?

The Madhavaram Sub Registrar Office handles property registrations for Chakrapani Street (Ponniamman Medu), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum registration value of a property and is used to calculate stamp duty and registration fees during property transactions.