Guideline Value for Nehruji Street (Ponniamman Medu)

Nehruji Street (Ponniamman Medu) guideline value

The current guideline value of Nehruji Street (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 Nehruji Street (Ponniamman Medu) has changed

The guideline value for Nehruji Street (Ponniamman Medu) has seen several revisions over the years. The last recorded revision prior to 2024 was in 2012, where the guideline value was Rs 1,200 per sq.ft. This marks an increase of 8% to the current value of Rs 1,300 per sq.ft in 2024. Notably, the register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, from the 2012 revision to the 2024 revision, the guideline value increased from Rs 1,200 to Rs 1,300 per sq.ft. The absence of figures for the other years indicates a lack of recorded changes during those periods.

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 Nehruji Street's current value below this median.

• Nehru Nagar: Rs 2,200 per sq.ft (2024)
• Nehru Nagar (Ward-30): Rs 2,200 per sq.ft (2024)
• Nehru Street, Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Nehru Street, Ponniammanmedu (Ward-22): 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)

Stamp duty and registration fee for property in Nehruji Street (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 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 fees 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.

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

Which Sub Registrar Office covers Nehruji Street (Ponniamman Medu)?

The Sub Registrar Office that covers Nehruji Street (Ponniamman Medu) 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 plays a crucial role during the registration process when buying or selling property in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable stamp duty and registration fees. This ensures that the fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Nehruji Street (Ponniamman Medu)?

The current guideline value of Nehruji Street (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an 8% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the classification of Nehruji Street (Ponniamman Medu)?

Nehruji Street (Ponniamman Medu) is classified as Residential Class III Type - I. This classification is important for understanding the type of development permitted in the area.

What are the stamp duty and registration fees for properties on this street?

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 Nehruji Street (Ponniamman Medu)?

The Madhavaram Sub Registrar Office handles registrations for Nehruji Street (Ponniamman Medu) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.