Guideline Value for Ambedkar Street /Ponni Nagar)

Ambedkar Street /Ponni Nagar) guideline value

The current guideline value of Ambedkar Street /Ponni Nagar) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Ambedkar Street /Ponni Nagar) has changed

The guideline value for Ambedkar Street /Ponni Nagar) has undergone several revisions over the years. In 2002, the guideline value was Rs 177 per sq.ft. This value increased to Rs 201 per sq.ft in 2003, marking a 14% rise. The value continued to climb, reaching Rs 360 per sq.ft in 2007, which was a significant increase of 79%. By 2017, the guideline value had further surged to Rs 1,206 per sq.ft, reflecting a 235% increase from 2007. The next revision in 2023 set the value at Rs 1,800 per sq.ft, a 49% rise from 2017. The most recent revision in 2024 has established the current guideline value at Rs 1,980 per sq.ft, representing a 10% increase from 2023. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, indicating that the 2024 figure for Ambedkar Street /Ponni Nagar) is below this median.

• Ambedkar Street, Pammal: Rs 1,980 per sq.ft (2024)
• Ambedkar Street (Thiru Nagar): Rs 1,980 per sq.ft (2024)
• Ambedkar Nagar( All Streets): Rs 1,980 per sq.ft (2024)
• Ambedhkar Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Ambedhkar Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Alandur Abraham Street (Muvendar Nagar): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ambedkar Street /Ponni Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ambedkar Street /Ponni Nagar)?

The Sub Registrar Office that covers Ambedkar Street /Ponni Nagar) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your nearest SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must adhere to these values to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ambedkar Street /Ponni Nagar)?

The current guideline value of Ambedkar Street /Ponni Nagar) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 177 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1019% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal village is Rs 2,090 per sq.ft, which is higher than the current value of Rs 1,980 per sq.ft for Ambedkar Street /Ponni Nagar).

What are the stamp duty rates applicable in Pammal?

The stamp duty rate in Pammal is 7% of the guideline value, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ambedkar Street /Ponni Nagar)?

The Sub Registrar Office for Ambedkar Street /Ponni Nagar) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.