Guideline Value for Sakthivel Nagar, Ponniammanmedu (Ward-24)

Sakthivel Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Sakthivel Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I. The guideline value is determined by the Madhavaram SRO.

How the guideline value of Sakthivel Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Sakthivel Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2024, there was a significant increase of 62%, bringing the value back up to Rs 1,300 per sq.ft. It is important to note that the register has no figure for the years 2023, 2007, 2003, and 2002 for this street.

Overall, comparing the revisions from 2012 to 2024, there has been a slight increase of 8%. The fluctuations in the guideline value reflect the changing landscape of property valuation in the area.

Guideline values in Madhavaram

In Madhavaram village, 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, with a median value of Rs 1,600 per sq.ft. The guideline value for Sakthivel Nagar is below this median.

• Sakthivel Nagar: Rs 1,300 per sq.ft (2024)
• Sakthi Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sakthi Nagar, Periyasekkadu (Ward-01): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Samson Nagar: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthivel Nagar, Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, resulting in a total of 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthivel Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Sakthivel Nagar, Ponniammanmedu (Ward-24) 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 plays a crucial role during property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price to determine which amount will be used for calculating the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sakthivel Nagar?

The current guideline value of Sakthivel Nagar, Ponniammanmedu (Ward-24) 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 increased to Rs 1,300 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 8%.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with a guideline value of Rs 1,300 per sq.ft in 2024 include Sakthi Sai Nagar (Ward-07), Sakthi Nagar, Periyasekkadu (Ward-01), Samiyar Thottam (Ponniamman Medu), and Samiyar Thottam, Ponniammanmedu (Ward-22).

What is the stamp duty rate for properties in Sakthivel Nagar?

The stamp duty rate for properties in Sakthivel Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Where can I find the Sub Registrar Office for Sakthivel Nagar?

The Sub Registrar Office for Sakthivel Nagar, Ponniammanmedu (Ward-24) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO online.