Guideline Value for Church Street / Ponni Nagar

Church Street / Ponni Nagar guideline value

The current guideline value of Church Street / Ponni Nagar in Pammal village is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Pammal SRO and is classified as Residential Class II Type - II.

How the guideline value of Church Street / Ponni Nagar has changed

The guideline value for Church Street / Ponni Nagar has seen significant changes over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a substantial increase of 73%. Following that, the value jumped to Rs 1,206 per sq.ft in 2017, reflecting a remarkable 235% increase. However, there is no figure available for this street in the 2012 revision. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from the previous revision. Finally, the current guideline value stands at Rs 1,980 per sq.ft from the 2024 revision, showing a 10% increase from 2023.

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 for these streets is Rs 2,090 per sq.ft, which means that Church Street / Ponni Nagar's 2024 figure is below that median.

• Cholavaram Nagar ,3rd Street: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Cholan Street / Muthamzahi Nagar: Rs 2,475 per sq.ft (2024)
• Children Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Church 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 would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost Rs 1,78,200. 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 Church Street / Ponni Nagar?

The Sub Registrar Office that covers Church Street / Ponni Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Pammal. It determines the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It helps in establishing a fair price for the transaction and ensures transparency in the registration process.

Frequently asked questions

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

The current guideline value of Church 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 184 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 976% over the years.

What is the stamp duty rate in Pammal?

The stamp duty rate in Pammal is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the registration office for Church Street / Ponni Nagar?

The registration office for Church Street / Ponni Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration price for property transactions, ensuring that the appropriate stamp duty and registration fees are collected by the government.