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

Samy Nagar,Ponniammanmedu (Ward-24) guideline value

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

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

Over the years, the guideline value of Samy Nagar, Ponniammanmedu (Ward-24) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the value to Rs 1,300 per sq.ft, marking a significant rise of 62% from 2017 to 2024.

When looking at the changes from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 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, with a median value of Rs 1,600 per sq.ft. The guideline value for Samy Nagar, Ponniammanmedu (Ward-24) is below this median.

• Samundeswari Nagar: Rs 1,300 per sq.ft (2024)
• Samson Nagar: Rs 3,500 per sq.ft (2024)
• Samiyar Thottam, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Samiyar Thottam (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Sanjay Nagar: Rs 2,200 per sq.ft (2024)
• Sanjay Nagar Extension: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Samy 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 details.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as the base value for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value helps in assessing the transaction's legitimacy and ensuring that the appropriate taxes are paid. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate transactions in Madhavaram.

Frequently asked questions

What is the current guideline value for Samy Nagar, Ponniammanmedu (Ward-24)?

The current guideline value for Samy 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. This reflects a 62% increase from 2017 to 2024.

What is the land classification for Samy Nagar, Ponniammanmedu (Ward-24)?

Samy Nagar, Ponniammanmedu (Ward-24) is classified as Residential Class III Type - I.

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

Other streets in Madhavaram include Samundeswari Nagar and Samiyar Thottam, both at Rs 1,300 per sq.ft, while Samson Nagar is at Rs 3,500 per sq.ft. Sanjay Nagar and Sanjay Nagar Extension are both valued at Rs 2,200 per sq.ft.

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.