Guideline Value for Ponniamman Medu 7th Cross Street

Ponniamman Medu 7th Cross Street guideline value

The current guideline value of Ponniamman Medu 7th 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 7th Cross Street has changed

The guideline value for Ponniamman Medu 7th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, with a guideline value of 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 rose significantly to Rs 1,500 per sq.ft, representing an increase of 49%. The latest revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this 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 that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Ponniamman Medu 7th Cross Street's 2024 figure aligns with this median.

• Ponniamman Medu 6th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 5th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Medu 3rd 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 7th 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 would be Rs 16,00,000. The stamp duty at 7% would amount to 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 the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ponniamman Medu 7th Cross Street?

The Sub Registrar Office covering Ponniamman Medu 7th 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 plays a crucial role during the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for these additional fees when budgeting for their property purchase.

Frequently asked questions

What is the current guideline value of Ponniamman Medu 7th Cross Street?

The current guideline value of Ponniamman Medu 7th 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 increases and one decrease in between.

What is the stamp duty for property in Ponniamman Medu 7th Cross Street?

The stamp duty for property in Ponniamman Medu 7th Cross Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Ponniamman Medu 7th Cross Street?

The Madhavaram Sub Registrar Office handles registrations for Ponniamman Medu 7th Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is also the current value for Ponniamman Medu 7th Cross Street.