Guideline Value for Ponniamman Medu 5th Cross Street

Ponniamman Medu 5th Cross Street guideline value

The current guideline value of Ponniamman Medu 5th 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 5th Cross Street has changed

The guideline value for Ponniamman Medu 5th Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. However, there was a significant increase to Rs 1,500 per sq.ft in 2023, followed by another rise to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 33%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

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 value of Ponniamman Medu 5th Cross Street.

• Ponniamman Medu 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 6th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 7th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 1st Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Medu 5th 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, making the total cost for these fees 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 also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Ponniamman Medu 5th Cross Street?

The Sub Registrar Office that covers Ponniamman Medu 5th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair value as per the government’s assessment.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ponniamman Medu 5th Cross Street?

The current guideline value of Ponniamman Medu 5th 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, reflecting an overall increase of 33% over this period.

What is the land classification for Ponniamman Medu 5th Cross Street?

Ponniamman Medu 5th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office located for this street?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covering Ponniamman Medu 5th Cross Street.