Guideline Value for Sriraman Salai, Ponniammanmedu (Ward-21)

Sriraman Salai, Ponniammanmedu (Ward-21) guideline value

The current guideline value of Sriraman Salai, Ponniammanmedu (Ward-21) 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 Sriraman Salai, Ponniammanmedu (Ward-21) has changed

The guideline value for Sriraman Salai, Ponniammanmedu has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Between the 2012 and 2024 revisions, the overall change is also an increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 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 Sriraman Salai, Ponniammanmedu is below this median.

• Sri Raman Salai City Limit Road (Ward No.21): Rs 1,300 per sq.ft (2024)
• Sri Raman Salai (Ward No.21): Rs 1,300 per sq.ft (2024)
• Sri Raman Salai 5th Street (Ward 21): Rs 1,300 per sq.ft (2024)
• Sri Ramanujam Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Sri Raman Salai 4th Street (Ward 21): Rs 1,300 per sq.ft (2024)
• Sri Raman Salai 3rd Street (Ward 21): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sriraman Salai, Ponniammanmedu (Ward-21)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value is 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. 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 Sriraman Salai, Ponniammanmedu (Ward-21)?

The Sriraman Salai, Ponniammanmedu (Ward-21) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a critical factor during property registration in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing rates in the area. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Sriraman Salai, Ponniammanmedu (Ward-21)?

The current guideline value of Sriraman Salai, Ponniammanmedu (Ward-21) 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 1,300 per sq.ft in 2024. There was no change from 2012 to 2023, but there was an 8% increase from 2023 to 2024.

What is the land classification for Sriraman Salai, Ponniammanmedu?

Sriraman Salai, Ponniammanmedu is classified as Residential Class III Type - I. This classification is important for determining the applicable guidelines and regulations for property transactions.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles registrations for Sriraman Salai, Ponniammanmedu?

The Madhavaram Sub Registrar Office handles registrations for Sriraman Salai, Ponniammanmedu (Ward-21). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.