Guideline Value for Ponniammanmedu 100 Feet Road (Ward-24)

Ponniammanmedu 100 Feet Road (Ward-24) guideline value

The current guideline value for Ponniammanmedu 100 Feet Road (Ward-24) is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Ponniammanmedu 100 Feet Road (Ward-24) has changed

The guideline value for Ponniammanmedu 100 Feet Road has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This increased to Rs 1,340 per sq.ft in 2017, marking a change of 12%. The next revision in 2023 set the value at Rs 2,000 per sq.ft, which is a significant increase of 49% from the previous figure. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% rise from 2023. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 83%, showcasing substantial growth in the valuation of this street over the years.

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. The guideline value for Ponniammanmedu 100 Feet Road is above this median, indicating its higher valuation compared to many other streets in the area.

• Ponniamman Koil st (Ward No.22): Rs 1,600 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 Ponniammanmedu 100 Feet Road (Ward-24)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, amounts to Rs 1,54,000, while the registration fee at 2% is Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniammanmedu 100 Feet Road (Ward-24)?

The Sub Registrar Office that covers Ponniammanmedu 100 Feet Road (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the correct amount of tax is paid to the government.

Frequently asked questions

What is the current guideline value of Ponniammanmedu 100 Feet Road?

The current guideline value of Ponniammanmedu 100 Feet Road (Ward-24) is Rs 2,200 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 2,200 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Ponniammanmedu 100 Feet Road?

The Madhavaram Sub Registrar Office handles property registrations for Ponniammanmedu 100 Feet Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and helps calculate applicable fees like stamp duty and registration fees during transactions.