Guideline Value for Ponniamman Medu 2nd Cross Street

Ponniamman Medu 2nd Cross Street guideline value

The current guideline value of Ponniamman Medu 2nd 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, classified as Residential Class II Type - I.

How the guideline value of Ponniamman Medu 2nd Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure increased to Rs 1,005 per sq.ft in the 2017 revision, reflecting a decrease of 16%. However, from 2017 to 2023, the value saw a significant rise of 49%, reaching Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for Ponniamman Medu 2nd Cross Street in the revisions from 2002, 2003, and 2007. 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 that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Ponniamman Medu 2nd Cross Street.

• Ponniamman Medu 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniammanmedu 100 Feet Road (Ward-24): Rs 2,200 per sq.ft (2024)
• Ponniamman Medu 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Koil st ( Ward No.22 ): 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 2nd Cross Street

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, while 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 higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ponniamman Medu 2nd Cross Street?

The Madhavaram Sub Registrar Office covers Ponniamman Medu 2nd Cross Street, 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 plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate fees are collected. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ponniamman Medu 2nd Cross Street?

The current guideline value of Ponniamman Medu 2nd 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 notable increases in 2023 and 2024.

What are the stamp duty and registration fees for this property?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,44,000.

Which office handles registrations for Ponniamman Medu 2nd Cross Street?

The Madhavaram Sub Registrar Office is responsible for handling registrations for Ponniamman Medu 2nd Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Ponniamman Medu 2nd Cross Street?

Ponniamman Medu 2nd Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.