Guideline Value for Nehru Street, Ponniammanmedu (Ward-22)

Nehru Street, Ponniammanmedu (Ward-22) guideline value

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

How the guideline value of Nehru Street, Ponniammanmedu (Ward-22) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. The current 2024 revision shows an increase of 8%, bringing the guideline value to Rs 1,300 per sq.ft. The revisions for the years 2023, 2017, 2007, 2003, and 2002 do not have any figures listed for this street in the register.

Thus, the only significant changes noted are from the 2012 to 2024 revisions, which reflect the increase from Rs 1,200 to Rs 1,300 per sq.ft.

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, indicating that Nehru Street, Ponniammanmedu (Ward-22) is below this median.

• Nehru Street, Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward-09): Rs 2,200 per sq.ft (2024)
• Nehru St (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nehru st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward No.9): Rs 2,200 per sq.ft (2024)
• Nellur High Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street, 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 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, making the total Rs 1,17,000. It's 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 detailed calculations.

Which Sub Registrar Office covers Nehru Street, Ponniammanmedu (Ward-22)?

The Sub Registrar Office that covers Nehru Street, Ponniammanmedu (Ward-22) 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 when registering property transactions in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Nehru Street, Ponniammanmedu (Ward-22)?

The current guideline value of Nehru Street, 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 increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates 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.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is generally 7%. This is applied to the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Nehru Street, Ponniammanmedu (Ward-22)?

The Sub Registrar Office for Nehru Street, Ponniammanmedu (Ward-22) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can visit the office for registration and other related services.