Guideline Value for KALYANI PONNAPPAN AVENUE

Kalyani Ponnappan Avenue guideline value

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

The guideline value for Kalyani Ponnappan Avenue has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 518 per sq.ft. It increased significantly to Rs 1,100 per sq.ft in 2007, followed by a substantial rise to Rs 3,200 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 2,144 per sq.ft. The 2023 revision saw another increase, bringing the value to Rs 3,200 per sq.ft, and the most recent revision in 2024 set it at Rs 3,550 per sq.ft.

In terms of percentage changes, the value rose by 112% from 2003 to 2007, then increased by 191% from 2007 to 2012. The value dropped by 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 11%. 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 that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing Kalyani Ponnappan Avenue's 2024 figure above that median.

• Kalyani Ponnappan Avenue Annex: 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

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 to Rs 3,19,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalyani Ponnappan Avenue?

The Kalyani Ponnappan Avenue 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a 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, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Kalyani Ponnappan Avenue?

The current guideline value of Kalyani Ponnappan Avenue 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 multiple times, starting from Rs 518 per sq.ft in 2003 to Rs 3,550 per sq.ft in 2024. Significant changes include a drop from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, followed by increases in subsequent revisions.

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

The stamp duty for property in Kalyani Ponnappan Avenue 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 based on the current guideline value.

What is the registration fee for property in Kalyani Ponnappan Avenue?

The registration fee for property in Kalyani Ponnappan Avenue is 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the registration fee would be Rs 71,000 based on the current guideline value.

Where is the Sub Registrar Office for Kalyani Ponnappan Avenue located?

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