Guideline Value for NADAR RICE MILL ROAD

Nadar Rice Mill Road guideline value

The current guideline value of Nadar Rice Mill Road is Rs 700 per sq.ft, effective from 1 July 2024. This road is located in Ponneri village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Nadar Rice Mill Road has changed

The guideline value for Nadar Rice Mill Road has undergone significant changes over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was set at Rs 300 per sq.ft, and it increased by 133% to Rs 700 per sq.ft in the 2024 revision.

This increase reflects the current valuation trends in the area, bringing the guideline value in line with the median for other streets in Ponneri. The 2024 revision marks a notable shift from the previous year, indicating a substantial rise in the valuation of properties along this road.

Guideline values in Ponneri

Ponneri village has a total of 120 streets under the Ponneri SRO, with guideline values ranging from Rs 201 to Rs 1,200 per sq.ft. The median guideline value is Rs 700 per sq.ft, which is equal to the current guideline value of Nadar Rice Mill Road.

• Nakkeeran Street: Rs 700 per sq.ft (2024)
• Narayani Appartment: Rs 700 per sq.ft (2024)
• Narayani Nagar: Rs 700 per sq.ft (2024)
• Mugambigai Nagar Layout: Rs 700 per sq.ft (2024)
• Mugambigai Extension: Rs 700 per sq.ft (2024)
• Neeli Appadurai Mudalai St: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Nadar Rice Mill Road

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value is Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nadar Rice Mill Road?

The Nadar Rice Mill Road falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Ponneri. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that the guideline value is a reference point for property valuations in the area.

When a property is sold, the registration office will use the guideline value to calculate the applicable fees. This ensures that all transactions are conducted fairly and transparently, based on the established rates for the region.

Frequently asked questions

What is the current guideline value of Nadar Rice Mill Road?

The current guideline value of Nadar Rice Mill Road is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, marking a change of 133%.

What is the land classification for Nadar Rice Mill Road?

Nadar Rice Mill Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Ponneri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.