Guideline Value for Shabeer Avenue (Ponniamman Medu)

Shabeer Avenue (Ponniamman Medu) guideline value

The current guideline value of Shabeer Avenue (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Shabeer Avenue (Ponniamman Medu) has changed

The guideline value for Shabeer Avenue (Ponniamman Medu) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. The most recent revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, marking a significant rise of 62% from the 2017 figure. 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 2002, 2003, 2007, and 2023 for this street. The changes in guideline value reflect the adjustments made in the official register over the years, impacting property transactions 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. The median guideline value in this area is Rs 1,600 per sq.ft, placing Shabeer Avenue (Ponniamman Medu) below this median value.

• Shankaralingam Street: Rs 1,300 per sq.ft (2024)
• Shankar Street: Rs 1,300 per sq.ft (2024)
• Senthil Nagar (Ward No.21): Rs 1,300 per sq.ft (2024)
• Senthil Nagar, Ponniammanmedu (Ward-21): Rs 1,300 per sq.ft (2024)
• Shanmugasundaram Nagar 1st st (Ward No.11): Rs 1,600 per sq.ft (2024)
• Shanmugasundaram Nagar 2nd St (Ward-11): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shabeer Avenue (Ponniamman Medu)

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 to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Shabeer Avenue (Ponniamman Medu)?

The Sub Registrar Office that covers Shabeer Avenue (Ponniamman Medu) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential components of the registration process.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Accurate knowledge of these values ensures compliance with legal requirements and helps in smooth property dealings.

Frequently asked questions

What is the current guideline value of Shabeer Avenue (Ponniamman Medu)?

The current guideline value of Shabeer Avenue (Ponniamman Medu) 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 currently stands at Rs 1,300 per sq.ft as of the 2024 revision.

What is the land classification for Shabeer Avenue (Ponniamman Medu)?

Shabeer Avenue (Ponniamman Medu) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Shabeer Avenue (Ponniamman Medu)?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Shabeer Avenue (Ponniamman Medu)?

The Sub Registrar Office for Shabeer Avenue (Ponniamman Medu) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.