Guideline Value for P.V.N. Nagar

P.V.N. Nagar guideline value

The current guideline value of P.V.N. Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of P.V.N. Nagar has changed

The guideline value for P.V.N. Nagar has undergone several revisions since 2017. The 2017 revision set the guideline value at Rs 1,005 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase further to Rs 1,600 per sq.ft, reflecting a 7% change from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. This consistent rise in values indicates a notable change in the guideline value for P.V.N. Nagar over the years.

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 value for these streets is Rs 1,600 per sq.ft, placing P.V.N. Nagar's current guideline value at the median level.

• Pushpambal st ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Punniyam Nagar: Rs 1,300 per sq.ft (2024)
• Punniakotti St ( Ward No.22 ): Rs 1,600 per sq.ft (2024)
• Ragavendra Avenu, Maduramettupalayam (Ward-30): Rs 1,300 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,300 per sq.ft (2024)
• Ragavendra Nagar Annexe: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in P.V.N. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Therefore, the total cost for stamp duty and registration would be Rs 1,44,000. 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 P.V.N. Nagar?

The Sub Registrar Office that covers P.V.N. Nagar 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 critical factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When buying or selling property, the guideline value can influence the amount of stamp duty and registration fees payable. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of P.V.N. Nagar?

The current guideline value of P.V.N. Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,600 per sq.ft in 2024, representing an overall increase of 59%.

What are the stamp duty rates applicable in P.V.N. Nagar?

The stamp duty rate in P.V.N. Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

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 is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is the same as the current guideline value for P.V.N. Nagar.