Guideline Value for MADHINA PALLI VASAL

Madhina Palli Vasal guideline value

The current guideline value of Madhina Palli Vasal is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village, under the Ponneri Sub Registrar Office (SRO), and is classified as Residential Special Type - I.

How the guideline value of Madhina Palli Vasal has changed

The guideline value for Madhina Palli Vasal has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft. This increased slightly to Rs 804 per sq.ft in the 2017 revision, marking a change of +1%. The most significant change occurred between the 2017 and 2023 revisions, where the value rose to Rs 1,200 per sq.ft, reflecting an increase of +49%. The 2024 revision maintains this value at Rs 1,200 per sq.ft, indicating no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ponneri

In Ponneri village, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Madhina Palli Vasal is above this median.

• Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 201 per sq.ft (2024)
• Lakshmi Amman Kovil Street: Rs 700 per sq.ft (2024)
• Maruthi Nagar: Rs 700 per sq.ft (2024)
• Masque St: Rs 700 per sq.ft (2024)
• Kumaran Streeet / N.G.O.Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Madhina Palli Vasal

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost for these fees Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Madhina Palli Vasal?

The Madhina Palli Vasal area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Ponneri. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during property transactions. Buyers must be aware that the guideline value can influence the overall cost of acquiring property.

When registering a property, the guideline value helps ensure that the transaction is documented at a fair value, which is essential for legal and taxation purposes. This value is used by the authorities to determine the applicable fees and taxes, making it an important aspect of the property registration process.

Frequently asked questions

What is the current guideline value of Madhina Palli Vasal?

The current guideline value of Madhina Palli Vasal is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2012 to Rs 1,200 per sq.ft in 2024, marking an overall increase of 50% over this period.

What are the stamp duty and registration fees for property in Madhina Palli Vasal?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles the registration for Madhina Palli Vasal?

The registration for Madhina Palli Vasal is handled by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Madhina Palli Vasal?

Madhina Palli Vasal is classified as Residential Special Type - I, indicating its suitability for residential development.