Guideline Value for Thirumalai Nagar Extn, Ponniammanmedu (Ward-24)

Thirumalai Nagar Extn, Ponniammanmedu (Ward-24) guideline value

The current guideline value for Thirumalai Nagar Extn, Ponniammanmedu (Ward-24) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I and falls under Madhavaram village, governed by the Madhavaram SRO.

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

Over the years, the guideline value for Thirumalai Nagar Extn, Ponniammanmedu has seen several revisions. The 2012 revision set the guideline value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,700 per sq.ft, reflecting a rise of 61%.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2023.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Thirumalai Nagar Extn, Ponniammanmedu's 2024 figure above that median.

• Thirumalai Nagar extension Road (Ward No.24): Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Extension-II: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Extension: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Main Road (Ward No.24): Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar, Ponniammanmedu (Ward-24): Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Sastri Nagar Main Road (Ward No.24): Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, calculated at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Therefore, the total cost for these fees would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers Thirumalai Nagar Extn, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find more details, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Madhavaram. It is used to determine the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Thirumalai Nagar Extn, Ponniammanmedu (Ward-24)?

The current guideline value for Thirumalai Nagar Extn, Ponniammanmedu (Ward-24) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. Overall, there has been an 8% increase from 2012 to 2024.

What is the land classification for Thirumalai Nagar Extn, Ponniammanmedu?

Thirumalai Nagar Extn, Ponniammanmedu is classified as Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Thirumalai Nagar Extn, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in Thirumalai Nagar Extn, Ponniammanmedu is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the same amount.