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Guideline Value

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Guideline Value for Lakshmi Nagar 1st St,Ponniammanmedu (Ward-24)

₹1300/sq.ft.

The guideline value for Lakshmi Nagar 1st St,ponniammanmedu (ward-24) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1300 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Lakshmi Nagar 1st St,ponniammanmedu (ward-24)

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Lakshmi Nagar 1st St,Ponniammanmedu (Ward-24) guideline value

The current guideline value for Lakshmi Nagar 1st St, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Lakshmi Nagar 1st St,Ponniammanmedu (Ward-24) has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This figure increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 1,300 per sq.ft, representing an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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 these streets is Rs 1,600 per sq.ft, placing Lakshmi Nagar 1st St, Ponniammanmedu (Ward-24) below this median.

Stamp duty and registration fee for property in Lakshmi Nagar 1st St,Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshmi Nagar 1st St,Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Lakshmi Nagar 1st St, Ponniammanmedu (Ward-24) 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 in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official values set by the Registration Department.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Lakshmi Nagar 1st St,Ponniammanmedu (Ward-24)?

The current guideline value of Lakshmi Nagar 1st St, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 62%, rising from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for Lakshmi Nagar 1st St, Ponniammanmedu (Ward-24) was Rs 1,200 per sq.ft in the 2023 revision.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Lakshmi Nagar 1st St, Ponniammanmedu (Ward-24), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 1,300 per sq.ft, the stamp duty would be 7% of the guideline value.