Guideline Value for Poongavanam Thottam ( Ward No.22 )

Poongavanam Thottam ( Ward No.22 ) guideline value

The current guideline value of Poongavanam Thottam ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and the Madhavaram SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Poongavanam Thottam ( Ward No.22 ) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, which is a rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Poongavanam Thottam ( Ward No.22 ) below this median.

• Poongavanam Thottam ( Ward No.23 ): Rs 1,300 per sq.ft (2024)
• Pope John Garden (Ward 1): Rs 1,300 per sq.ft (2024)
• Prabakaran Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Prabhakar Nagar: Rs 1,300 per sq.ft (2024)
• Prabhakar Nagar Extension: Rs 1,300 per sq.ft (2024)
• Prakash Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Poongavanam Thottam ( Ward No.22 )

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poongavanam Thottam ( Ward No.22 )?

The Sub Registrar Office that covers Poongavanam Thottam ( Ward No.22 ) 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 Madhavaram

The guideline value plays a crucial role 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 the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Poongavanam Thottam ( Ward No.22 )?

The current guideline value of Poongavanam Thottam ( Ward No.22 ) is Rs 1,300 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 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Poongavanam Thottam ( Ward No.22 )?

Poongavanam Thottam ( Ward No.22 ) is classified as Residential Class III Type - I.

What is the median guideline value for streets in Madhavaram?

The median guideline value for the 1,946 streets in Madhavaram is Rs 1,600 per sq.ft, which means Poongavanam Thottam ( Ward No.22 ) is below this median.

Where can I find the Sub Registrar Office for Poongavanam Thottam ( Ward No.22 )?

The Sub Registrar Office for Poongavanam Thottam ( Ward No.22 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.