Guideline Value for Gandhi Nagar, Ponniammanmedu (Ward-23)

Gandhi Nagar, Ponniammanmedu (Ward-23) guideline value

The current guideline value for Gandhi Nagar, Ponniammanmedu (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class I Type - I.

How the guideline value of Gandhi Nagar, Ponniammanmedu (Ward-23) has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. The most recent revision in 2024 has increased this to Rs 2,200 per sq.ft, marking a significant increase of 64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the changes in property valuation over the years, with the 2024 figure being substantially higher than the 2017 value. The current guideline value indicates a growing recognition of the area's residential potential.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Gandhi Nagar's 2024 figure above this median.

• Gandhi Nagar Extension: Rs 2,200 per sq.ft (2024)
• Gandhi Road @ Gandhiji Road: Rs 1,300 per sq.ft (2024)
• Gandhi Street ( Ward No.29 ): Rs 1,600 per sq.ft (2024)
• Ganesan Nagar (Ward-08): Rs 2,200 per sq.ft (2024)
• Gandhimathi Street (Ward-1): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar, Ponniammanmedu (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the 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 Gandhi Nagar, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Gandhi Nagar, Ponniammanmedu (Ward-23) 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 is a critical factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration reflects the current market conditions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the overall transaction cost. This ensures compliance with legal requirements and facilitates a smooth property transfer process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar, Ponniammanmedu (Ward-23)?

The current guideline value for Gandhi Nagar, Ponniammanmedu (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing a change of 64%.

Are there any years without a guideline value for Gandhi Nagar?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Gandhi Nagar, Ponniammanmedu (Ward-23).

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with Gandhi Nagar's 2024 figure being above this median.

Where is the Sub Registrar Office for Gandhi Nagar located?

The Sub Registrar Office for Gandhi Nagar, Ponniammanmedu (Ward-23) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.