Guideline Value for Industrial Estate 119

Industrial Estate 119 guideline value

The current guideline value of Industrial Estate 119 is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madavilagam village, under the Poonamallee SRO, and is classified as Industries Type - I.

How the guideline value of Industrial Estate 119 has changed

The guideline value for Industrial Estate 119 has seen several revisions over the years. In the 2007 revision, the value was Rs 300 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, which was a drop of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, followed by the current 2024 revision that raised it to Rs 2,200 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 633%. The register does not have figures for the years 2002 and 2003 for this street.

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 value is Rs 1,100 per sq.ft, placing Industrial Estate 119's 2024 figure above this median.

• Industrial Estate 118: Rs 2,200 per sq.ft (2024)
• Industrial Estate 120: Rs 2,200 per sq.ft (2024)
• Industrial Estate 117: Rs 2,200 per sq.ft (2024)
• Industrial Estate 121: Rs 2,200 per sq.ft (2024)
• Industrial Estate 116: Rs 2,200 per sq.ft (2024)
• Industrial Estate 115: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Industrial Estate 119

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 119?

The Sub Registrar Office that covers Industrial Estate 119 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 plays a crucial role when buying or selling property in Madavilagam. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the regulations set forth by the registration authorities.

When registering a property, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are recorded accurately and transparently, providing a clear framework for property dealings in the area.

Frequently asked questions

What is the current guideline value of Industrial Estate 119?

The current guideline value of Industrial Estate 119 is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 633% over the years.

What are the stamp duty and registration fees for a property in Industrial Estate 119?

For a 1,000 sq.ft plot, the total guideline value would be Rs 22,00,000, with a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for properties in Industrial Estate 119?

The Poonamallee Sub Registrar Office handles registrations for properties in Industrial Estate 119, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It is based on the higher of the guideline value or the sale price, ensuring accurate and transparent dealings.