Guideline Value for Krishna Nagar , Ponniammanmedu (Ward-23)

Krishna Nagar , Ponniammanmedu (Ward-23) guideline value

The current guideline value of Krishna Nagar , Ponniammanmedu (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Krishna Nagar , Ponniammanmedu (Ward-23) has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This was a change from the previous revisions, which have no figures for this street in the years 2002, 2003, 2007, 2017, and 2023. The most recent revision in 2024 saw an increase to Rs 2,200 per sq.ft, marking a 10% rise from the 2012 figure.

Thus, the guideline value has seen a significant increase from Rs 2,000 in 2012 to Rs 2,200 in 2024. The changes reflect the adjustments made over the years, with the current rate being above the median guideline value for the village.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, and Krishna Nagar , Ponniammanmedu (Ward-23) is above this median.

• Krishna Nagar Roads ( Ward No.3 ): Rs 2,200 per sq.ft (2024)
• Krishna Nagar (Ward-23): Rs 2,200 per sq.ft (2024)
• Krishna Nagar ( Ward No.8 ): Rs 2,200 per sq.ft (2024)
• Krishna Nagar Extension: Rs 2,200 per sq.ft (2024)
• Krishnappan St (Ward-02): Rs 1,300 per sq.ft (2024)
• Krishnappan st ( Ward No.1 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Krishna Nagar , Ponniammanmedu (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is 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, making the total fees Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Krishna Nagar , Ponniammanmedu (Ward-23)?

The Krishna Nagar , Ponniammanmedu (Ward-23) area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Krishna Nagar , Ponniammanmedu (Ward-23)?

The current guideline value of Krishna Nagar , Ponniammanmedu (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft. Krishna Nagar , Ponniammanmedu (Ward-23) is above this median value.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

Which office handles registrations for Krishna Nagar , Ponniammanmedu (Ward-23)?

The Madhavaram Sub Registrar Office handles registrations for Krishna Nagar , Ponniammanmedu (Ward-23), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.