Guideline Value for Valliammai Nagar, Ponniammanmedu (Ward-23)

Valliammai Nagar, Ponniammanmedu (Ward-23) guideline value

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

The guideline value for Valliammai Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. The subsequent revision in 2023 saw a significant increase to Rs 1,200 per sq.ft, followed by another increase to Rs 1,300 per sq.ft in 2024, marking an 8% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which means Valliammai Nagar's 2024 figure is below the median.

• Valliammai Nagar Extension: Rs 1,600 per sq.ft (2024)
• Valliammai Nagar 3rd Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Valliammai Nagar 2nd Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Valliammai Nagar 1st Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Valliammai Nagar: Rs 1,300 per sq.ft (2024)
• Valluvar Colony: Rs 1,300 per sq.ft (2024)

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

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, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Valliammai Nagar, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Valliammai 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 transactions in Madhavaram. It serves as a benchmark for determining the registration fees and stamp duty payable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Valliammai Nagar?

The current guideline value of Valliammai 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Valliammai Nagar?

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Valliammai Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

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