Guideline Value for Industrial Estate 115

Industrial Estate 115 guideline value

The current guideline value of Industrial Estate 115, located in Madavilagam village under the Poonamallee SRO, is Rs 2,200 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Industries Type - I.

How the guideline value of Industrial Estate 115 has changed

Over the years, the guideline value of Industrial Estate 115 has experienced significant changes. In the 2007 revision, the value was Rs 300 per sq.ft. This increased dramatically to Rs 2,000 per sq.ft in the 2012 revision, marking a rise of 567%. However, there was a decrease to Rs 1,340 per sq.ft in the 2017 revision, which represented a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in the 2023 revision, showing an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Industrial Estate 115 above this median.

• Industrial Estate 114: Rs 2,200 per sq.ft (2024)
• Industrial Estate 116: Rs 2,200 per sq.ft (2024)
• Industrial Estate 113/3: Rs 2,200 per sq.ft (2024)
• Industrial Estate 117: Rs 2,200 per sq.ft (2024)
• Industrial Estate 113/2: Rs 2,200 per sq.ft (2024)
• Industrial Estate 118: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Industrial Estate 115

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 fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Industrial Estate 115?

The Sub Registrar Office that covers Industrial Estate 115 is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madavilagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Industrial Estate 115?

The current guideline value of Industrial Estate 115 is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 300 per sq.ft to Rs 2,200 per sq.ft in 2024, representing a total increase of 633%.

What is the land classification for Industrial Estate 115?

The land classification for Industrial Estate 115 is Industries Type - I, indicating its suitability for industrial activities.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.