Guideline Value for Industrial Estate 121

Industrial Estate 121 guideline value

The current guideline value of Industrial Estate 121 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 121 has changed

The guideline value for Industrial Estate 121 has seen significant changes over the years. In 2007, the value was Rs 300 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 brought the value back up to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

In summary, from 2007 to 2024, the guideline value has increased by 633%. The register does not provide 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 have a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that Industrial Estate 121's 2024 figure is above this median.

• Industrial Estate 120: Rs 2,200 per sq.ft (2024)
• Industrial Estate 119: Rs 2,200 per sq.ft (2024)
• Industrial Estate 118: Rs 2,200 per sq.ft (2024)
• Industrial Estate 117: 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 121

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, totaling 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Industrial Estate 121?

The Sub Registrar Office that covers Industrial Estate 121 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 figure used during the registration of property transactions in Madavilagam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when purchasing or selling property.

When a buyer or seller engages in a transaction, the guideline value is considered to ensure compliance with local regulations. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Industrial Estate 121?

The current guideline value of Industrial Estate 121 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 significantly from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the median guideline value in Madavilagam?

The median guideline value in Madavilagam for the 37 streets under the Poonamallee SRO is Rs 1,100 per sq.ft.

What fees are involved when buying property in Industrial Estate 121?

When buying property in Industrial Estate 121, the fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Industrial Estate 121 located?

The Sub Registrar Office for Industrial Estate 121 is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.