Guideline Value for Poondi Madha Street

Poondi Madha Street guideline value

The current guideline value of Poondi Madha Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Poondi Madha Street has changed

The guideline value for Poondi Madha Street has seen several revisions over the years. In 2012, the value was set at Rs 2,300 per sq.ft. This figure then decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then further to Rs 2,500 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 9%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Poondi Madha Street in the register.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is equal to the current value for Poondi Madha Street.

• Pugalendhi Street (Krishnamoorthy Nagar): Rs 2,500 per sq.ft (2024)
• Pugalendhi Street (Vivekananda Nagar): Rs 2,500 per sq.ft (2024)
• Pugalendi Street: Rs 2,500 per sq.ft (2024)
• P. Jeevanandam Street: Rs 2,500 per sq.ft (2024)
• Punitha Androse Street: Rs 2,500 per sq.ft (2024)
• Rajavelu Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Poondi Madha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poondi Madha Street?

The Sub Registrar Office that covers Poondi Madha Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Erukancherry. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold, ensuring that the transaction is registered at a value that reflects the local market conditions.

When registering a property, buyers must ensure that the sale price is at least equal to the guideline value. This helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Poondi Madha Street?

The current guideline value of Poondi Madha Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Poondi Madha Street?

Poondi Madha Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Poondi Madha Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 25,00,000, the stamp duty would be Rs 1,75,000.