Guideline Value for Subash Nagar, Ponniammanmedu (Ward-24)

Subash Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Subash Nagar, Ponniammanmedu (Ward-24) 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.

How the guideline value of Subash Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Subash Nagar was Rs 1,200 per sq.ft in the 2012 revision. This marks an increase of 8% to the current value of Rs 1,300 per sq.ft in the 2024 revision. There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street.

From 2012 to 2024, the guideline value increased from Rs 1,200 to Rs 1,300 per sq.ft. This change reflects the adjustments made in the register to align with the current market conditions.

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 Subash Nagar is below this median.

• Subash Nagar (Ward No.24): Rs 1,300 per sq.ft (2024)
• Subash Nagar: Rs 1,300 per sq.ft (2024)
• Subam Street 4th Street: Rs 1,600 per sq.ft (2024)
• Subam Street 3rd Street: Rs 1,600 per sq.ft (2024)
• Subam Street 2nd Street: Rs 1,600 per sq.ft (2024)
• Subam Street 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Subash Nagar, Ponniammanmedu (Ward-24)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost Rs 1,17,000. Please note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subash Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office covering Subash Nagar, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is essential during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Subash Nagar, Ponniammanmedu (Ward-24)?

The current guideline value of Subash Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an increase of 8%. There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Subash Nagar?

Subash Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.

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 stamp duty calculated for properties in Subash Nagar?

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