Guideline Value for NORTH STREET

North Street guideline value

The current guideline value of North Street in Minjur village under the Ponneri SRO is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of North Street has changed

The guideline value for North Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase of 10% from the 2023 figure of Rs 500 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 335 per sq.ft, marking a significant increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that the register has no figures for North Street for the years 2002, 2003, 2007, and 2012. The absence of data for these years means we cannot assess any changes during that period.

Guideline values in Minjur

In Minjur, a total of 179 streets are listed under the Ponneri SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value is Rs 550 per sq.ft, which is the same as the current value for North Street.

• New Padmavathy City: Rs 550 per sq.ft (2024)
• Om Shakthi Nagar: Rs 550 per sq.ft (2024)
• Pachaiyamman Kovil Road: Rs 550 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 880 per sq.ft (2024)
• Pachaiyamman Nagar Main Road: Rs 880 per sq.ft (2024)
• Nethaji Nagar & Ext I&ii: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers North Street?

The Sub Registrar Office that covers North Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of North Street?

The current guideline value of North Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for North Street has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for North Street?

North Street falls under the Residential Class II Type - I land classification.

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 the stamp duty calculated for properties in North Street?

The stamp duty for properties in North Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are also applicable at 2% of the guideline value.