Guideline Value for Kannakan Chatiram (Ponniamman Medu)

Kannakan Chatiram (Ponniamman Medu) guideline value

The current guideline value for Kannakan Chatiram (Ponniamman Medu) is Rs 1,600 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 II Type - I.

How the guideline value of Kannakan Chatiram (Ponniamman Medu) has changed

The guideline value for Kannakan Chatiram (Ponniamman Medu) has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which saw a decrease to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram village, 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 in this area is Rs 1,600 per sq.ft, which is equal to the current value for Kannakan Chatiram (Ponniamman Medu).

• Kannadasan Salai: Rs 1,600 per sq.ft (2024)
• Kannan Nagar 1st st ( Ward No.19 ): Rs 1,300 per sq.ft (2024)
• Kannan Nagar 2nd st ( Ward No.19 ): Rs 1,300 per sq.ft (2024)
• Kannabiran Koil st ( Ward No.12 ): Rs 1,600 per sq.ft (2024)
• Kannabiran Koil st 6th st ( Ward No.12 ): Rs 1,600 per sq.ft (2024)
• Kannabiran Koil st 5th st ( Ward No.12 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kannakan Chatiram (Ponniamman Medu)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Kannakan Chatiram (Ponniamman Medu)?

The Sub Registrar Office that covers Kannakan Chatiram (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 is a crucial factor during property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the registration process. This ensures transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value for Kannakan Chatiram (Ponniamman Medu)?

The current guideline value for Kannakan Chatiram (Ponniamman Medu) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Kannakan Chatiram (Ponniamman Medu)?

Kannakan Chatiram (Ponniamman Medu) is classified as Residential Class II Type - I according to the guideline value register.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kannakan Chatiram (Ponniamman Medu)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,00,000 incurs a stamp duty of Rs 1,12,000 at 7%.