Guideline Value for Ponniamman Medu 1st Cross Street

Ponniamman Medu 1st Cross Street guideline value

The current guideline value for Ponniamman Medu 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ponniamman Medu 1st Cross Street has changed

The guideline value for Ponniamman Medu 1st Cross Street has experienced several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 1,200 per sq.ft. This increased to Rs 1,005 per sq.ft in 2017, marking a decrease of 16%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline 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 recorded figures for the years 2002, 2003, and 2007 for Ponniamman Medu 1st Cross Street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values 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 the same as the current value for Ponniamman Medu 1st Cross Street.

• Ponniammanmedu 100 Feet Road (Ward-24): Rs 2,200 per sq.ft (2024)
• Ponniamman Medu 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Koil st (Ward No.22): 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 Medu 1st Cross Street

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 at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ponniamman Medu 1st Cross Street?

The Sub Registrar Office that covers Ponniamman Medu 1st Cross Street 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 property transactions in Madhavaram, as it determines the amount of stamp duty and registration fees payable during the registration process. When buying or selling property, the guideline value serves as a benchmark for calculating these fees, ensuring that both parties are aware of the financial obligations involved.

It is essential for buyers and sellers to be familiar with the guideline value of the property in question, as it can influence the overall cost of the transaction. Understanding these values can help facilitate a smoother registration process and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ponniamman Medu 1st Cross Street?

The current guideline value of Ponniamman Medu 1st Cross Street 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, including Rs 1,005 in 2017 and Rs 1,500 in 2023.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram for 2024 is Rs 1,600 per sq.ft, which is the same as the guideline value for Ponniamman Medu 1st Cross Street.

What fees are associated with buying property in Ponniamman Medu 1st Cross Street?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ponniamman Medu 1st Cross Street located?

The Sub Registrar Office for Ponniamman Medu 1st Cross Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.