Guideline Value for M.G.R. Nagar (Ponniamman Medu)

M.G.R. Nagar (Ponniamman Medu) guideline value

The current guideline value for M.G.R. Nagar (Ponniamman Medu) is Rs 1,300 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 III Type - I.

How the guideline value of M.G.R. Nagar (Ponniamman Medu) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a change of -33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and finally to Rs 1,300 per sq.ft in the 2024 revision, reflecting an increase of 8% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a slight increase of 8%. The guideline value register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value for M.G.R. Nagar (Ponniamman Medu) is below this median.

• MGR Nagar (Ward-30): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar (Mettupalayam): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar Main Road (Ward 30): Rs 1,300 per sq.ft (2024)
• MGR St, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 8th Street (Ward 30): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 7th Street (Ward 30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar (Ponniamman Medu)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar (Ponniamman Medu)?

The Sub Registrar Office that covers M.G.R. Nagar (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal and tax purposes.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar (Ponniamman Medu)?

The current guideline value of M.G.R. Nagar (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for M.G.R. Nagar (Ponniamman Medu)?

The land classification for M.G.R. Nagar (Ponniamman Medu) is Residential Class III Type - I.

Where is the Sub Registrar Office for M.G.R. Nagar (Ponniamman Medu) located?

The Sub Registrar Office for M.G.R. Nagar (Ponniamman Medu) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in M.G.R. Nagar (Ponniamman Medu)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.