Guideline Value for V.P.C. Nagar, Ponniammanmedu (Ward-23)

V.P.C. Nagar, Ponniammanmedu (Ward-23) guideline value

The current guideline value of V.P.C. Nagar, Ponniammanmedu (Ward-23) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class II Type - I, governed by the Madhavaram SRO.

How the guideline value of V.P.C. Nagar, Ponniammanmedu (Ward-23) has changed

Over the years, the guideline value of V.P.C. Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023 and further rose to Rs 1,600 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 7%.

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, which aligns with the current guideline value of V.P.C. Nagar.

• V.P.C. Nagar (Ponniamman Medu): Rs 2,200 per sq.ft (2024)
• V.P.C. Nagar Extension: Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.27 ): Rs 1,600 per sq.ft (2024)
• V.O.C. St ( Ward No.21 ): Rs 1,600 per sq.ft (2024)
• V.P. Sindhan Nagar: Rs 1,300 per sq.ft (2024)
• V.O.C. St ( Ward No.17 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in V.P.C. Nagar, Ponniammanmedu (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these charges to Rs 1,44,000. It is important to 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 precise calculations.

Which Sub Registrar Office covers V.P.C. Nagar, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers V.P.C. 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property transaction occurs, the guideline value is referenced to determine the applicable charges. Buyers and sellers must be aware of these values to accurately budget for the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of V.P.C. Nagar, Ponniammanmedu (Ward-23)?

The current guideline value of V.P.C. Nagar, Ponniammanmedu (Ward-23) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of V.P.C. Nagar?

V.P.C. Nagar is classified as Residential Class II Type - I, indicating its designation for residential use under the Madhavaram SRO.

What are the stamp duty and registration fees for property in V.P.C. Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000 for these charges.

Where is the Sub Registrar Office for V.P.C. Nagar located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers V.P.C. Nagar, Ponniammanmedu (Ward-23).