Guideline Value for Punitha Lourdu Madha Street

Punitha Lourdu Madha Street guideline value

The current guideline value of Punitha Lourdu Madha Street is Rs 2,200 per sq.ft. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Punitha Lourdu Madha Street has changed

The guideline value for Punitha Lourdu Madha Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 2,000 per sq.ft, but it increased to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, making the 2024 figure for Punitha Lourdu Madha Street below this median.

• Pugazhanthi Street: Rs 2,200 per sq.ft (2024)
• Public Well Street: Rs 2,200 per sq.ft (2024)
• Radhakrishnan Street: Rs 2,200 per sq.ft (2024)
• President Krishnan Street: Rs 2,200 per sq.ft (2024)
• Ragavan Colony: Rs 2,700 per sq.ft (2024)
• Ragavan Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Punitha Lourdu Madha Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Punitha Lourdu Madha Street?

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

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

The guideline value is a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Punitha Lourdu Madha Street?

The current guideline value of Punitha Lourdu Madha Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase over this period. The value remained unchanged at Rs 2,000 per sq.ft in 2023.

What is the land classification for Punitha Lourdu Madha Street?

Punitha Lourdu Madha Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft property at the current guideline value would incur a total of Rs 1,98,000 in fees.

Where is the Sub Registrar Office located for this area?

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