Guideline Value for KALYANI PONNAPPAN AVENUE ANNEX

Kalyani Ponnappan Avenue Annex guideline value

The current guideline value of Kalyani Ponnappan Avenue Annex is Rs 3,550 per sq.ft, effective from 1 July 2024. This property is located in Ramapuram village under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Kalyani Ponnappan Avenue Annex has changed

Since the 2003 revision, the guideline value has seen significant changes. The 2003 figure was Rs 518 per sq.ft, which increased to Rs 1,100 per sq.ft in 2007, marking a rise of 112%. Following this, the value surged to Rs 3,200 per sq.ft in 2012, a remarkable increase of 191%. However, it dropped to Rs 2,144 per sq.ft in 2017, reflecting a decrease of 33%. The guideline value then rose to Rs 3,200 per sq.ft in 2023, and currently stands at Rs 3,550 per sq.ft as of the 2024 revision, which is an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 585%. The register has no figure for the year 2002 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO carrying a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Kalyani Ponnappan Avenue Annex's 2024 figure is above this median.

• Kalyani Ponnappan Avenue: Rs 3,550 per sq.ft (2024)
• Kalsathamman Koil Street: Rs 2,750 per sq.ft (2024)
• Kamaraj 1st Street: Rs 4,400 per sq.ft (2024)
• Kamaraj 2nd Street: Rs 4,400 per sq.ft (2024)
• Kaliyappa Naicker Street: Rs 4,400 per sq.ft (2024)
• Kalidasan Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyani Ponnappan Avenue Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value would be Rs 35,50,000. The stamp duty at 7% would amount to Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, bringing the total fees together to Rs 3,19,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalyani Ponnappan Avenue Annex?

The Kalyani Ponnappan Avenue Annex falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Ramapuram. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to understand the financial implications of the transaction.

When a property is sold, the registration office uses the guideline value to assess the fees, which are calculated based on the higher of the guideline value or the agreed sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalyani Ponnappan Avenue Annex?

The current guideline value of Kalyani Ponnappan Avenue Annex is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 518 per sq.ft in 2003 to Rs 3,550 per sq.ft in 2024, marking an overall increase of 585% over this period.

What is the stamp duty for property in Kalyani Ponnappan Avenue Annex?

The stamp duty for property in Kalyani Ponnappan Avenue Annex is 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the stamp duty would be Rs 2,48,500.

Which Sub Registrar Office covers this area?

The Chennai South Joint II Sub Registrar Office covers Kalyani Ponnappan Avenue Annex, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Kalyani Ponnappan Avenue Annex?

Kalyani Ponnappan Avenue Annex is classified as Residential Class I Type - II under the Chennai South Joint II SRO.