Guideline Value for Albert Ponnusamy Street

Albert Ponnusamy Street guideline value

The current guideline value of Albert Ponnusamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO with a land classification of Residential Class IV Type - I.

How the guideline value of Albert Ponnusamy Street has changed

Over the years, the guideline value of Albert Ponnusamy Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 450 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 122%. However, the value decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The most recent revision in 2023 set the value at Rs 1,000 per sq.ft, followed by a further increase to Rs 1,100 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the value has risen by 144%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Albert Ponnusamy Street's 2024 figure below that median.

• Alladi Krishnasamy Street: Rs 1,400 per sq.ft (2024)
• Ambedkar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 1st Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 2nd Street: Rs 1,100 per sq.ft (2024)
• Ambedkar 3rd Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Albert Ponnusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to 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 Albert Ponnusamy Street?

The Sub Registrar Office that covers Albert Ponnusamy Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Albert Ponnusamy Street?

The current guideline value of Albert Ponnusamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the median guideline value in Selaiyur?

The median guideline value for the 478 streets in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current value of Albert Ponnusamy Street.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for properties on Albert Ponnusamy Street?

The Selaiyur Sub Registrar Office handles registrations for properties on Albert Ponnusamy Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.