Guideline Value for New Sasthri Nagar, Ponniammanmedu (Ward-24)

New Sasthri Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of New Sasthri Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I.

How the guideline value of New Sasthri Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for New Sasthri Nagar has seen revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase from Rs 1,200 per sq.ft in the 2023 revision, marking an 8% rise. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Prior to the 2023 revision, the last recorded guideline value was Rs 1,200 per sq.ft. There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017, indicating that the values for those years were not registered for New Sasthri Nagar.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 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, which means the value of New Sasthri Nagar is below the median.

• New Sasthri Nagar: Rs 1,300 per sq.ft (2024)
• New Telephone Colony: Rs 1,600 per sq.ft (2024)
• Nithya Garden Extension: Rs 2,200 per sq.ft (2024)
• Nethaji st (Ward No.25): Rs 1,300 per sq.ft (2024)
• Nethaji st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nethaji Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Sasthri Nagar, Ponniammanmedu (Ward-24)

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 cost for these charges 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 information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Sasthri Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers New Sasthri Nagar, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate 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 New Sasthri Nagar?

The current guideline value of New Sasthri Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, reflecting an 8% rise.

What is the land classification for New Sasthri Nagar?

New Sasthri Nagar is classified as Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What should I know about stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 1,17,000 in charges.