Guideline Value for Pongi Madalayam Street (SIP Colony)

Pongi Madalayam Street (SIP Colony) guideline value

The current guideline value of Pongi Madalayam Street (SIP Colony) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Pongi Madalayam Street (SIP Colony) has changed

The guideline value for Pongi Madalayam Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and then further rose to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Pongi Madalayam Street's 2024 figure above that median.

• Petters Colony: Rs 3,900 per sq.ft (2024)
• Petter Colony Main Road: Rs 3,900 per sq.ft (2024)
• Periyar Nagar: Rs 3,900 per sq.ft (2024)
• Radha Puram: Rs 3,900 per sq.ft (2024)
• Raghupathi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Raghupathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Pongi Madalayam Street (SIP Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total fees together Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pongi Madalayam Street (SIP Colony)?

The Sub Registrar Office that covers Pongi Madalayam Street (SIP Colony) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for additional details.

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

The guideline value plays a crucial role in the registration process of property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is referenced to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Pongi Madalayam Street (SIP Colony)?

The current guideline value of Pongi Madalayam Street (SIP Colony) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024. The most recent revision reflects a 10% increase from the previous year.

What is the median guideline value for streets in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft. Pongi Madalayam Street's current value is above this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,96,000.

Where can I find the Sub Registrar Office for Pongi Madalayam Street?

The Sub Registrar Office for Pongi Madalayam Street (SIP Colony) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.