Guideline Value for Vasu Nagar (Ponniamman Medu)

Vasu Nagar (Ponniamman Medu) guideline value

The current guideline value of Vasu Nagar (Ponniamman Medu) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vasu Nagar (Ponniamman Medu) has changed

The guideline value for Vasu Nagar has undergone several revisions over the years. The earliest available figure is from 2012, where it was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The most recent revision, effective from 1 July 2024, has increased the guideline value to Rs 1,300 per sq.ft. The register has no figures for the years 2023, 2007, 2003, and 2002.

Between the 2017 and 2024 revisions, there has been an increase of 62%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Vasu Nagar (Ponniamman Medu) below the median value.

• Vasu Nagar 4th Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar 3rd Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar 2nd Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasu Nagar 1st Street, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Vasuki Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vasu Nagar (Ponniamman Medu)

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, while the registration fee at 2% would be Rs 26,000, bringing the total to 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.

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

Which Sub Registrar Office covers Vasu Nagar (Ponniamman Medu)?

The Sub Registrar Office that covers Vasu Nagar (Ponniamman Medu) 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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for both buyers and sellers to understand the guideline value as it influences the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Vasu Nagar (Ponniamman Medu)?

The current guideline value of Vasu Nagar (Ponniamman Medu) 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 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. There are no figures for the years 2023, 2007, 2003, and 2002.

What is the land classification of Vasu Nagar (Ponniamman Medu)?

Vasu Nagar (Ponniamman Medu) is classified as Residential Class III Type - I.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current value of Vasu Nagar (Ponniamman Medu).

Where can I find the Sub Registrar Office for Vasu Nagar (Ponniamman Medu)?

The Sub Registrar Office for Vasu Nagar (Ponniamman Medu) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.