Guideline Value for Sri Krishna Nagar, Ponniammanmedu (Ward-23)

Sri Krishna Nagar, Ponniammanmedu (Ward-23) guideline value

The current guideline value for Sri Krishna Nagar, Ponniammanmedu (Ward-23) 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, governed by the Madhavaram SRO.

How the guideline value of Sri Krishna Nagar, Ponniammanmedu (Ward-23) has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the guideline value saw a significant increase in the 2024 revision, rising to Rs 1,300 per sq.ft, which represents a 62% increase from 2017.

Overall, comparing the 2012 and 2024 revisions, 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 Sri Krishna Nagar, Ponniammanmedu (Ward-23) is below this median.

• Srikrishna Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Sri Krishna Nagar (Moolachatram) (Ward-02): Rs 1,600 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,200 per sq.ft (2024)
• Srikandhan Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Sri Kandan Nagar: Rs 1,300 per sq.ft (2024)
• Sri Lalitha Garden: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Krishna Nagar, Ponniammanmedu (Ward-23)

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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Krishna Nagar, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Sri Krishna Nagar, 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 details.

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

The guideline value is an essential factor in property transactions in Madhavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and preparing for registration.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value for Sri Krishna Nagar, Ponniammanmedu (Ward-23)?

The current guideline value for Sri Krishna Nagar, Ponniammanmedu (Ward-23) 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. Overall, this represents an 8% increase from 2012 to 2024.

What is the land classification for Sri Krishna Nagar, Ponniammanmedu (Ward-23)?

Sri Krishna Nagar, Ponniammanmedu (Ward-23) is classified as Residential Class III Type - I, indicating its suitability for residential development.

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 Sri Krishna Nagar, Ponniammanmedu (Ward-23)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.