Guideline Value for Ponnusamy Nagar, Ponniammanmedu (Ward-24)

Ponnusamy Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Ponnusamy Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I, as per the Madhavaram SRO.

How the guideline value of Ponnusamy Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Ponnusamy Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it rose to Rs 1,300 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 regarding this street.

Between the revisions, the changes were significant. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects an 8% increase, bringing the overall change from 2012 to 2024 to an increase of 8%.

Guideline values in Madhavaram

The guideline values for properties in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as of 2024, with a median value of Rs 1,600 per sq.ft. Ponnusamy Nagar's current value of Rs 1,300 per sq.ft is below this median.

• Ponnusamy Naicker Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Ponniamman Medu 7th Cross Street: Rs 1,600 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Ponnusamy Nagar, Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Ponnusamy Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Ponnusamy Nagar, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is the value that is considered for calculating the stamp duty and registration fees, ensuring that all transactions are recorded at a standard value set by the government.

When buying or selling property, it is essential to understand that the guideline value can impact the overall costs involved in the transaction. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can affect the total amount payable during registration.

Frequently asked questions

What is the current guideline value of Ponnusamy Nagar, Ponniammanmedu (Ward-24)?

The current guideline value of Ponnusamy Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the other streets in Madhavaram and their guideline values?

Other streets in Madhavaram include Ponnusamy Naicker Nagar at Rs 1,300 per sq.ft, and several streets at Rs 1,600 per sq.ft, such as Ponniamman Medu 7th Cross Street, 6th Cross Street, 5th Cross Street, 4th Cross Street, and 3rd Cross Street.

Where can I find the Sub Registrar Office for Ponnusamy Nagar?

The Sub Registrar Office for Ponnusamy Nagar, Ponniammanmedu (Ward-24) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Ponnusamy Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.