Guideline Value for South Madaveethi

South Madaveethi guideline value

The current guideline value for South Madaveethi is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of South Madaveethi has changed

The guideline value for South Madaveethi has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase amounts to 64%, reflecting the changes in the valuation over these years.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for South Madaveethi is below this median.

• Shivashankaran Nagar: Rs 1,320 per sq.ft (2024)
• Shanmuga Nagar Nethaji Street: Rs 1,320 per sq.ft (2024)
• Shankaralingam Street: Rs 1,100 per sq.ft (2024)
• Sri Nagar: Rs 1,100 per sq.ft (2024)
• Sri Ragavendhara Nagar: Rs 1,100 per sq.ft (2024)
• Sathish Nagar Veerasamy Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in South Madaveethi

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these charges to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers South Madaveethi?

The Sub Registrar Office that covers South Madaveethi is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This system helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for South Madaveethi?

The current guideline value for South Madaveethi is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for South Madaveethi has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over these years.

What are the stamp duty and registration fees for properties in South Madaveethi?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 in fees.

Which office handles registrations for South Madaveethi?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, handles registrations for South Madaveethi.

What is the land classification for South Madaveethi?

South Madaveethi is classified as Residential Class II Type - I, indicating its designation for residential use within the area.