Guideline Value for Punniyam Nagar

Punniyam Nagar guideline value

The current guideline value of Punniyam Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Punniyam Nagar has changed

The guideline value for Punniyam Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2024 revision, the value increased to Rs 1,300 per sq.ft, reflecting a significant rise of 62% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, placing Punniyam Nagar's 2024 figure below this median.

• Punniakotti St (Ward No.22): Rs 1,600 per sq.ft (2024)
• Pushpambal st (Ward No.1): Rs 1,300 per sq.ft (2024)
• Pukraj Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Pukraj Nagar Connecting Road (Ward No.14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 7th St (Ward-14): Rs 2,200 per sq.ft (2024)
• Pukraj Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Punniyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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 cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Punniyam Nagar?

The Sub Registrar Office that covers Punniyam Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your local office by visiting find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Punniyam Nagar?

The current guideline value of Punniyam Nagar 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, and then to Rs 1,300 per sq.ft in 2024. This reflects an overall increase of 8% from 2012 to 2024.

What is the land classification for Punniyam Nagar?

Punniyam Nagar is classified as Residential Class III Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property in Punniyam Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Which office handles property registrations in Punniyam Nagar?

The Madhavaram Sub Registrar Office handles property registrations for Punniyam Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.