Guideline Value for West Thanikachalam Nagar, Ponniammanmedu (Ward-24)

West Thanikachalam Nagar, Ponniammanmedu (Ward-24) guideline value

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

How the guideline value of West Thanikachalam Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for West Thanikachalam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as per the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has increased by 8%. The register has no 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 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing West Thanikachalam Nagar's 2024 figure above this median.

• V.V. Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• V.V. Nagar: Rs 1,300 per sq.ft (2024)
• 200 Feet Road, Ponniammanmedu (Ward-24): Rs 3,800 per sq.ft (2024)
• 200 Feet Road (Ward-30): Rs 3,800 per sq.ft (2024)
• V.S. Mani Street (Ward-10): Rs 1,300 per sq.ft (2024)
• V.S. Mani Ring Road Housing Sector: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in West Thanikachalam Nagar, 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 would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers West Thanikachalam Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers West Thanikachalam Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further inquiries.

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

The guideline value is a crucial factor during the registration of property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property transaction occurs, the guideline value helps ensure that the fees are calculated fairly based on the value of the property, thereby facilitating a transparent and regulated process.

Frequently asked questions

What is the current guideline value of West Thanikachalam Nagar?

The current guideline value of West Thanikachalam Nagar, 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, then to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft in 2024.

What is the land classification for West Thanikachalam Nagar?

West Thanikachalam Nagar is classified as Residential Special Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,43,000.

Which office handles registrations for West Thanikachalam Nagar?

The Madhavaram Sub Registrar Office handles registrations for West Thanikachalam Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.