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

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

The current guideline value of Sri Srinivasa 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 Srinivasa Nagar,Ponniammanmedu (Ward-23) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 1,200 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been a modest increase of 8% in the guideline value.

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. Sri Srinivasa Nagar's 2024 figure is below this median.

• Sri Subam Avenue: Rs 1,300 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar @ Sai Nagar: Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar Extension: Rs 1,300 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 1,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. 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 Srinivasa Nagar,Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Sri Srinivasa 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 a crucial factor during property registration in Madhavaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Nagar?

The current guideline value of Sri Srinivasa 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 seen several changes: it was Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,300 per sq.ft in 2024.

What is the stamp duty for property in Sri Srinivasa Nagar?

The stamp duty for property in Sri Srinivasa Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

Where is the Sub Registrar Office for Sri Srinivasa Nagar located?

The Sub Registrar Office for Sri Srinivasa Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Sri Srinivasa Nagar?

Sri Srinivasa Nagar is classified as Residential Class III Type - I under the Madhavaram SRO.