Guideline Value for Poongavanam Thottam ( Ward No.23 )

Poongavanam Thottam ( Ward No.23 ) guideline value

The current guideline value of Poongavanam Thottam ( Ward No.23 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, and it is classified as Residential Class III Type - I.

How the guideline value of Poongavanam Thottam ( Ward No.23 ) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram under the Madhavaram SRO range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Poongavanam Thottam ( Ward No.23 ) has a 2024 figure that is below this median.

• Poongavanam Thottam ( Ward No.22 ): 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.23 )

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, totaling 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 further calculations.

Which Sub Registrar Office covers Poongavanam Thottam ( Ward No.23 )?

The Sub Registrar Office that covers Poongavanam Thottam ( Ward No.23 ) 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 is a critical reference for determining the value of properties when registering a sale in Madhavaram. It helps establish a baseline for the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of registration. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Poongavanam Thottam ( Ward No.23 )?

The current guideline value of Poongavanam Thottam ( Ward No.23 ) 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 seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% over this period.

What is the land classification of Poongavanam Thottam ( Ward No.23 )?

Poongavanam Thottam ( Ward No.23 ) is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Poongavanam Thottam ( Ward No.23 )?

The Sub Registrar Office for Poongavanam Thottam ( Ward No.23 ) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Poongavanam Thottam ( Ward No.23 )?

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