Guideline Value for Ettiappan Salai, Ponniammanmedu (Ward-22)

Ettiappan Salai, Ponniammanmedu (Ward-22) guideline value

The current guideline value of Ettiappan Salai, Ponniammanmedu (Ward-22) 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 Ettiappan Salai, Ponniammanmedu (Ward-22) has changed

The guideline value for Ettiappan Salai, Ponniammanmedu has seen several revisions over the years. In 2012, the guideline value was set 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 finally to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Ettiappan Salai's 2024 figure is below this median.

• Ettiappan Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Ettiappan st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar Kanniappan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar Govindan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ettiappan Salai, Ponniammanmedu (Ward-22)

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, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ettiappan Salai, Ponniammanmedu (Ward-22)?

The Sub Registrar Office that covers Ettiappan Salai, Ponniammanmedu (Ward-22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Ettiappan Salai?

The current guideline value of Ettiappan Salai, Ponniammanmedu (Ward-22) 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Ettiappan Salai?

Ettiappan Salai is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the other streets in Madhavaram with the same guideline value?

Other streets in Madhavaram that share the same guideline value of Rs 1,300 per sq.ft include Ettiappan Nagar, Ettiappan st, Ettiappan Nagar Kanniappan Street, Ettiappan Nagar Govindan Street, and Ethiraj Nagar.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.