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Guideline Value

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Guideline Value for Prakash Nagar 3rd St, Ponniammanmedu (Ward-23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 3rd St, Ponniammanmedu (ward-23) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Prakash Nagar 3rd St, Ponniammanmedu (ward-23)

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Prakash Nagar 3rd St, Ponniammanmedu (Ward-23) guideline value

The current guideline value of Prakash Nagar 3rd St, Ponniammanmedu (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Prakash Nagar 3rd St, Ponniammanmedu (Ward-23) has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 2,700 per sq.ft, reflecting a rise of 61%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 8%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

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. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Prakash Nagar 3rd St, Ponniammanmedu (Ward-23) above this median.

Stamp duty and registration fee for property in Prakash Nagar 3rd St, Ponniammanmedu (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Prakash Nagar 3rd St, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Prakash Nagar 3rd St, Ponniammanmedu (Ward-23) 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 is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the registration process.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value for Prakash Nagar 3rd St, Ponniammanmedu (Ward-23)?

The current guideline value for Prakash Nagar 3rd St, Ponniammanmedu (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2024. This reflects a decline from 2012 to 2017, followed by a significant increase to the current value.

What is the land classification for Prakash Nagar 3rd St, Ponniammanmedu (Ward-23)?

The land classification for Prakash Nagar 3rd St, Ponniammanmedu (Ward-23) is Residential Special Type - I, indicating its designated use 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 property registrations in the area.

How is stamp duty calculated for properties in Prakash Nagar 3rd St, Ponniammanmedu (Ward-23)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at the current guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.