Guideline Value for Ramalinga colony B Blk,Ponniammanmedu (Ward-23)

Ramalinga colony B Blk,Ponniammanmedu (Ward-23) guideline value

The current guideline value of Ramalinga colony B Blk,Ponniammanmedu (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Special Type - I. The guideline value is set by the Madhavaram SRO.

How the guideline value of Ramalinga colony B Blk,Ponniammanmedu (Ward-23) has changed

The guideline value for Ramalinga colony B Blk,Ponniammanmedu was revised from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, marking an increase of 8%. The register has no figures for the years 2003, 2007, 2017, and 2023, indicating that no revisions were recorded for this street during those years.

Prior to the 2012 revision, the last recorded figure was Rs 2,500 per sq.ft in 2012. There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street, and thus, the guideline value remained unchanged during those periods.

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 in this area is Rs 1,600 per sq.ft, placing Ramalinga colony B Blk,Ponniammanmedu's 2024 figure above that median.

• Ramalinga Colony A Block Main Road (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony B Block 1st Cross St (Ward-23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony A Block 3rd Cross Street (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony B Block 2nd Cross St (Ward-23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony A Block 2nd Cross Street (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony B Block 3rd Cross St (Ward-23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga colony B Blk,Ponniammanmedu (Ward-23)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling 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 more details.

Which Sub Registrar Office covers Ramalinga colony B Blk,Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Ramalinga colony B Blk,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, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. It is essential for both buyers and sellers to be aware of the guideline value to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Ramalinga colony B Blk,Ponniammanmedu (Ward-23)?

The current guideline value of Ramalinga colony B Blk,Ponniammanmedu (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased from Rs 2,500 per sq.ft to Rs 2,700 per sq.ft in 2024, which is an increase of 8%.

What is the classification of land in Ramalinga colony B Blk,Ponniammanmedu?

The land in Ramalinga colony B Blk,Ponniammanmedu is classified as Residential Special Type - I. This classification is important for determining the guideline value.

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 the registration of properties in the area.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty for properties in Madhavaram is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.