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

Vidya Nagar, Ponniammanmedu (Ward-23) guideline value

The current guideline value of Vidya Nagar, Ponniammanmedu (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Vidya Nagar, Ponniammanmedu (Ward-23) has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, reflecting a drop of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 2,700 per sq.ft, marking a rise of 61% over this period. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 8%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, positioning Vidya Nagar's 2024 figure above this median.

• Vidya Nagar: Rs 2,700 per sq.ft (2024)
• Vignesh Apartments, MRH Road (Ward-10): Rs 2,200 per sq.ft (2024)
• Victory Field (Ward-18): Rs 1,300 per sq.ft (2024)
• Victory Fields Santham Nagar: Rs 2,200 per sq.ft (2024)
• Victory Fields Extension: Rs 2,200 per sq.ft (2024)
• Victory Fields: Rs 1,300 per sq.ft (2024)

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

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 at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office covering Vidya 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 information.

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

The guideline value plays a crucial role in the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is often used to ensure that the transaction is recorded at a fair value. This helps maintain transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value of Vidya Nagar, Ponniammanmedu (Ward-23)?

The current guideline value of Vidya Nagar, Ponniammanmedu (Ward-23) 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 it has increased to Rs 2,700 per sq.ft in 2024. This reflects a decrease of 33% from 2012 to 2017, followed by an increase of 61% from 2017 to 2024.

What is the land classification of Vidya Nagar?

Vidya Nagar is classified as Residential Special Type - I. This classification is important for determining the permissible land use and development regulations in 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 property in Vidya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.