Guideline Value for Chamundeeswari Nagar, Ponniammanmedu (Ward-24)

Chamundeeswari Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Chamundeeswari Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I.

How the guideline value of Chamundeeswari Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Chamundeeswari Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 8%.

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, placing Chamundeeswari Nagar's 2024 figure below this median.

• Chakrapani Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Chakrapani Salai (Ward No.23): 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 Chamundeeswari Nagar, Ponniammanmedu (Ward-24)

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, calculated at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Chamundeeswari Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Chamundeeswari Nagar, Ponniammanmedu (Ward-24) 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 is a critical factor during property registration in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value helps ensure that the transaction is conducted at a price that is reflective of the area's market conditions. It is essential for both buyers and sellers to consider the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chamundeeswari Nagar?

The current guideline value of Chamundeeswari Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with a guideline value of Rs 1,300 per sq.ft include Chakrapani Street and Chakrapani Salai. Other streets in the area have higher values, such as Chandra Prabhu Colony and various layouts in Ward No.20, which are valued at Rs 1,600 per sq.ft.

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 is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chamundeeswari Nagar?

The Sub Registrar Office for Chamundeeswari Nagar, Ponniammanmedu (Ward-24) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information by visiting the relevant link.