Guideline Value for Nethaji Street (Ponniamman Medu)

Nethaji Street (Ponniamman Medu) guideline value

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

The guideline value for Nethaji Street (Ponniamman Medu) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,200 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 804 per sq.ft. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%, but from 2017 to 2023, the guideline value rose by 49%. Overall, comparing the values from 2012 to 2024, there has been an 8% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with guideline values 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 Nethaji Street (Ponniamman Medu) below that median value.

• Nethaji st ( Ward No.22): Rs 1,300 per sq.ft (2024)
• Nethaji Street (Lakshmipuram): Rs 1,600 per sq.ft (2024)
• Nethaji st ( Ward No.25): Rs 1,300 per sq.ft (2024)
• Nethaji Street Cross St (Ward-22): Rs 1,300 per sq.ft (2024)
• Nethaji Street (Annai Indira Nagar): Rs 1,300 per sq.ft (2024)
• Nethaji St, Lakshmipuram (Ward-25): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji 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 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, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Nethaji 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 assistance.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for the sale price. It is important for both buyers and sellers to be aware of the current guideline value to ensure that they comply with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Nethaji Street (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 has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram include Nethaji st (Ward No.22), Nethaji st (Ward No.25), Nethaji Street Cross St (Ward-22), and Nethaji Street (Annai Indira Nagar), all valued at Rs 1,300 per sq.ft in 2024.

What is the registration office for Nethaji Street (Ponniamman Medu)?

The registration office for Nethaji Street (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

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 calculated at 7% of that value.