Guideline Value for MGR St, Ponniammanmedu (Ward-22)

MGR St, Ponniammanmedu (Ward-22) guideline value

The current guideline value of MGR St, Ponniammanmedu (Ward-22) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of MGR St, Ponniammanmedu (Ward-22) has changed

Over the years, the guideline value for MGR St, Ponniammanmedu has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a drop of 33%. The 2023 revision then increased the value to Rs 1,200 per sq.ft, and currently, the 2024 revision has raised it further to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for MGR St, Ponniammanmedu is below this median.

• M.G.R.Street (Burma Colony): Rs 1,600 per sq.ft (2024)
• MGR Nagar (Ward-30): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar (Mettupalayam): Rs 1,300 per sq.ft (2024)
• M.G.R.Street (Ward No.7): Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar Main Road (Ward 30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in MGR St, Ponniammanmedu (Ward-22)

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, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MGR St, Ponniammanmedu (Ward-22)?

The Sub Registrar Office that covers MGR St, Ponniammanmedu (Ward-22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of properties.

When buying or selling a property, it is essential to consider the guideline value, as it ensures compliance with local regulations and helps in accurately calculating the associated costs of the transaction.

Frequently asked questions

What is the current guideline value of MGR St, Ponniammanmedu (Ward-22)?

The current guideline value of MGR St, Ponniammanmedu (Ward-22) 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 back 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 MGR St, Ponniammanmedu?

MGR St, Ponniammanmedu is classified as Residential Class III Type - I under the Tamil Nadu land classification system.

Where can I find the Sub Registrar Office for MGR St, Ponniammanmedu?

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

How is stamp duty calculated for properties in MGR St, Ponniammanmedu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.