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

Durga Nagar, Ponniammanmedu (Ward-24) guideline value

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

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

The guideline value for Durga Nagar has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase.

Prior to the 2023 revision, there are no available figures for the mentioned years. The increase from Rs 1,200 to Rs 1,300 in 2024 reflects the latest adjustment in the guideline value for this street.

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, with a median value of Rs 1,600 per sq.ft. The guideline value for Durga Nagar is below this median.

• Durgai Nagar: Rs 1,300 per sq.ft (2024)
• Durai swamy Naicker St ( Ward No.9): Rs 1,300 per sq.ft (2024)
• Duraisamy st ( Ward No.10): Rs 1,300 per sq.ft (2024)
• Duraisamy Naicker Thottam: Rs 1,300 per sq.ft (2024)
• Duraisamy Naicker St (Ward-10): Rs 1,300 per sq.ft (2024)
• Duraisamy Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Durga 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 at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost 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.

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

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

The Sub Registrar Office that covers Durga Nagar, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures that the government collects the appropriate taxes during property transactions.

Frequently asked questions

What is the current guideline value of Durga Nagar, Ponniammanmedu (Ward-24)?

The current guideline value of Durga 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 for Durga Nagar has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Durga Nagar?

Durga Nagar is classified under Residential Class III Type - I, indicating its designation for residential use within the locality.

What are the stamp duty and registration fees for property in Durga Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,00,000, with a stamp duty of Rs 91,000 and a registration fee of Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Durga Nagar located?

The Madhavaram Sub Registrar Office, which covers Durga Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.