Guideline Value for Periya Salai, Ponniammanmedu (Ward-22)

Periya Salai, Ponniammanmedu (Ward-22) guideline value

The current guideline value of Periya Salai, Ponniammanmedu (Ward-22) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class I Type - I.

How the guideline value of Periya Salai, Ponniammanmedu (Ward-22) has changed

Over the years, the guideline value for Periya Salai has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft. This was followed by a decrease in the 2017 revision, which adjusted the value to Rs 1,340 per sq.ft, marking an 11% decline. In 2023, the guideline value increased to Rs 2,000 per sq.ft, reflecting a significant rise of 49% from 2017. The most recent 2024 revision has further increased the value to Rs 2,200 per sq.ft, a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

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, with a median value of Rs 1,600 per sq.ft. The guideline value of Periya Salai, Ponniammanmedu (Ward-22) at Rs 2,200 per sq.ft is above this median.

• Periya Salai (Ponniamman Medu): Rs 2,200 per sq.ft (2024)
• Periyasekkadu Padmavathy Nagar: Rs 1,600 per sq.ft (2024)
• Periya Salai 4th Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periya Salai 3rd Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periyasalai 2nd Cross St (Ward-22): Rs 1,600 per sq.ft (2024)
• Periyasalai 1st Cross St (Ward-22): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Salai, Ponniammanmedu (Ward-22)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Periya Salai, Ponniammanmedu (Ward-22)?

The Sub Registrar Office that covers Periya Salai, 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 in the registration process when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the higher of the guideline value and the sale price is considered for calculating the duties. This ensures that the government collects the appropriate fees based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Periya Salai, Ponniammanmedu (Ward-22)?

The current guideline value of Periya Salai, Ponniammanmedu (Ward-22) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the stamp duty for property in Periya Salai, Ponniammanmedu (Ward-22)?

The stamp duty for property in this area is calculated at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Which office handles registrations for Periya Salai, Ponniammanmedu (Ward-22)?

The Madhavaram Sub Registrar Office handles registrations for Periya Salai, Ponniammanmedu (Ward-22). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Periya Salai, Ponniammanmedu (Ward-22)?

The land classification for Periya Salai, Ponniammanmedu (Ward-22) is Residential Class I Type - I.