Guideline Value for Manavalan Nagar , Ponniammanmedu (Ward-23)

Manavalan Nagar , Ponniammanmedu (Ward-23) guideline value

The current guideline value of Manavalan Nagar , Ponniammanmedu (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Manavalan Nagar , Ponniammanmedu (Ward-23) has changed

Over the years, the guideline value for Manavalan Nagar has seen a few revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. 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 years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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 in this area is Rs 1,600 per sq.ft, placing Manavalan Nagar's 2024 figure below the median.

• Manavalan Avenue (Ponniamman Medu): 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 Nagar , Ponniammanmedu (Ward-23)

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 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 use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Manavalan Nagar , Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Manavalan Nagar , Ponniammanmedu (Ward-23) 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 the basis for calculating the stamp duty and registration fees, which are mandatory during the registration of property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Manavalan Nagar , Ponniammanmedu (Ward-23)?

The current guideline value of Manavalan Nagar , Ponniammanmedu (Ward-23) 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 remained at Rs 1,200 per sq.ft from 2012 to 2023, before increasing to Rs 1,300 per sq.ft in the 2024 revision. Overall, from 2012 to 2024, the guideline value has increased by 8%.

What is the land classification of Manavalan Nagar?

Manavalan Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated in Madhavaram?

Stamp duty in Madhavaram is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.