Guideline Value for Ponniamman Koil st ( Ward No.22 )

Ponniamman Koil st ( Ward No.22 ) guideline value

The current guideline value of Ponniamman Koil st ( Ward No.22 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ponniamman Koil st ( Ward No.22 ) has changed

The guideline value for Ponniamman Koil st has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which increased to Rs 1,005 per sq.ft in 2017. This was a decrease of 16%. The value then saw a significant increase to Rs 1,500 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Ponniamman Koil st ( Ward No.22 ).

• Ponniammanmedu 100 Feet Road (Ward-24): Rs 2,200 per sq.ft (2024)
• Ponniamman Medu 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 5th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil st ( Ward No.22 )

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Ponniamman Koil st ( Ward No.22 )?

The Sub Registrar Office that covers Ponniamman Koil st ( Ward No.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 when buying or selling property in Madhavaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it influences the overall costs involved. Buyers and sellers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Ponniamman Koil st ( Ward No.22 )?

The current guideline value for Ponniamman Koil st ( Ward No.22 ) is Rs 1,600 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 1,600 per sq.ft in 2024, with various revisions in between. The most notable increase was from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024.

What is the stamp duty for properties on Ponniamman Koil st ( Ward No.22 )?

The stamp duty for properties on Ponniamman Koil st ( Ward No.22 ) is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

What is the land classification for Ponniamman Koil st ( Ward No.22 )?

The land classification for Ponniamman Koil st ( Ward No.22 ) is Residential Class II Type - I, which indicates the type of development permissible in this area.