Guideline Value for Manavalan Avenue (Ponniamman Medu)

Manavalan Avenue (Ponniamman Medu) guideline value

The current guideline value of Manavalan Avenue (Ponniamman Medu) 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 Manavalan Avenue (Ponniamman Medu) has changed

In the 2012 revision, the guideline value for Manavalan Avenue was Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The most recent change from 2023 to 2024 reflects a significant adjustment, while the previous years did not show any changes in the guideline value 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. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Manavalan Avenue's 2024 figure below that median.

• Manavalan Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Mandaveli 1st Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 2nd Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 3rd Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 4th Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 5th Street (Ward-7): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Manavalan Avenue (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 would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Manavalan Avenue (Ponniamman Medu)?

The Sub Registrar Office that covers Manavalan Avenue (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the local authorities.

When a property is sold, the guideline value is used to assess the applicable duties and fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that all transactions are transparent and comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Manavalan Avenue (Ponniamman Medu)?

The current guideline value of Manavalan Avenue (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 for Manavalan Avenue has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, which is an 8% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Manavalan Avenue (Ponniamman Medu)?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles registrations for Manavalan Avenue (Ponniamman Medu).

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that transactions are recorded at a value that reflects the local market conditions as assessed by the authorities.