Guideline Value for Gowri Nagar (Ponniamman Medu)

Gowri Nagar (Ponniamman Medu) guideline value

The current guideline value for Gowri Nagar (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Gowri Nagar (Ponniamman Medu) has changed

The guideline value for Gowri Nagar (Ponniamman Medu) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase from Rs 1,200 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the value was Rs 804 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2007.

Guideline values in Madhavaram

In Madhavaram village, 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 Gowri Nagar (Ponniamman Medu) is below this median.

• Gowri Nagar Main Road (Ward No.24): Rs 1,300 per sq.ft (2024)
• Gowri Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Gowri Nagar: Rs 3,000 per sq.ft (2024)
• Govindasamy st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Govindasamy Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Govindappa Naicker St (Ward-02): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gowri Nagar (Ponniamman Medu)

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, leading to a total of 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 further assistance.

Which Sub Registrar Office covers Gowri Nagar (Ponniamman Medu)?

The Sub Registrar Office that covers Gowri Nagar (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for the pricing of properties in the area, influencing the overall transaction costs.

Frequently asked questions

What is the current guideline value for Gowri Nagar (Ponniamman Medu)?

The current guideline value for Gowri Nagar (Ponniamman Medu) 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 several times, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 8%.

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 Gowri Nagar Main Road, Gowri Nagar, Ponniammanmedu, Govindasamy Street, and Govindappa Naicker St.

What is the registration fee for property transactions in Gowri Nagar (Ponniamman Medu)?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 13,00,000, the registration fee would amount to Rs 26,000.

Where can I find the Sub Registrar Office for Gowri Nagar (Ponniamman Medu)?

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