Guideline Value for PAVENDER STREET

Pavender Street guideline value

The current guideline value of Pavender Street, located in Ponneri village under the Ponneri SRO, is Rs 700 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Pavender Street has changed

The guideline value for Pavender Street has seen significant changes over the years. In the 2023 revision, the value was recorded at Rs 300 per sq.ft. With the 2024 revision, this value increased to Rs 700 per sq.ft, marking a change of +133%. It is important to note that there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

Thus, the only recorded revisions for Pavender Street are from 2023 and 2024, with the 2024 figure representing a substantial increase from the previous year. The current guideline value aligns with the median value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO.

Guideline values in Ponneri

Ponneri village has a range of guideline values for its streets, with figures for 2024 varying from Rs 201 to Rs 1,200 per sq.ft. Pavender Street's current guideline value of Rs 700 per sq.ft is exactly at the median for the area. Below are other streets in Ponneri with their respective guideline values:

• Pazhaverkadu Pudhuvoyal Salai: Rs 900 per sq.ft (2024)
• Parthasarathy Kovil St: Rs 700 per sq.ft (2024)
• Periyar Street: Rs 700 per sq.ft (2024)
• Panchetty Salai: Rs 700 per sq.ft (2024)
• Perumal Nagar: Rs 700 per sq.ft (2024)
• Palanivel Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Pavender Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to 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 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pavender Street?

The Sub Registrar Office that covers Pavender Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, within the Chennai registration zone. 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 in the registration process of property transactions in Ponneri. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transactions are recorded at a fair value.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions. This ensures that the government receives the appropriate revenue from property sales and helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Pavender Street?

The current guideline value of Pavender Street is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 300 per sq.ft to Rs 700 per sq.ft, representing a change of +133%.

What is the land classification for Pavender Street?

Pavender Street is classified as Residential Class II Type - I according to the current 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, in the Chennai registration zone.

How is stamp duty calculated for property in Pavender Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the stamp duty would be Rs 49,000.