Guideline Value for Dilli Avenue, Ponniammanmedu (Ward-24)

Dilli Avenue, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Dilli Avenue, Ponniammanmedu (Ward-24) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Dilli Avenue, Ponniammanmedu (Ward-24) has changed

The guideline value for Dilli Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure changed to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a rise of 49%. The latest revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for Dilli Avenue. Overall, from 2012 to 2024, the guideline value has increased by 7%, reaching the current rate of Rs 1,600 per sq.ft.

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 value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Dilli Avenue.

• Dmante Avenue (Ward-18): Rs 1,600 per sq.ft (2024)
• Douwleth Bee Nagar: Rs 1,300 per sq.ft (2024)
• Dharmalingam Nagar Phase - I & Phase - II: Rs 2,200 per sq.ft (2024)
• Dhansingh Maistry St (Ward No.17): Rs 1,600 per sq.ft (2024)
• Dhanasingh Maistry Street: Rs 1,600 per sq.ft (2024)
• Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dilli Avenue, Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration fee would be Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Dilli Avenue, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Dilli Avenue, 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 crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the transaction is conducted transparently and fairly according to the established rates.

Frequently asked questions

What is the current guideline value of Dilli Avenue, Ponniammanmedu (Ward-24)?

The current guideline value of Dilli Avenue, Ponniammanmedu (Ward-24) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Dilli Avenue?

Dilli Avenue is classified as Residential Class II Type - I, indicating its designation for residential use.

What is the stamp duty rate for property transactions in Dilli Avenue?

The stamp duty rate for property transactions in Dilli Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by visiting the appropriate link.