Guideline Value for PON VASANTHAM NAGAR

Pon Vasantham Nagar guideline value

The current guideline value of Pon Vasantham Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This area is located in Kilkondaiyur village and falls under the Avadi SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Pon Vasantham Nagar has changed

The guideline value for Pon Vasantham Nagar has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 167 per sq.ft. This was increased to Rs 250 per sq.ft in the 2023 revision, marking a 50% increase. The latest revision in 2024 has set the guideline value at Rs 275 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kilkondaiyur

In Kilkondaiyur, there are five streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 330 per sq.ft. The median value for these streets is Rs 275 per sq.ft, which is equal to the guideline value of Pon Vasantham Nagar.

• Sree Vari Nagar Phase-II: Rs 330 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 220 per sq.ft (2024)
• Lakshmi Nagar: Rs 220 per sq.ft (2024)
• Joy Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Pon Vasantham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty, charged at 7%, would amount to Rs 19,250, while the registration fee at 2% would be Rs 5,500. Therefore, the total cost for stamp duty and registration would be Rs 24,750. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pon Vasantham Nagar?

The Sub Registrar Office that covers Pon Vasantham Nagar is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Kilkondaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers often use this value to negotiate the sale price, ensuring that it meets or exceeds the guideline value.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Pon Vasantham Nagar?

The current guideline value of Pon Vasantham Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, and then to Rs 275 per sq.ft in 2024. This represents an overall increase of 65% from 2017 to 2024.

What are the other streets in Kilkondaiyur?

Other streets in Kilkondaiyur include Sree Vari Nagar Phase-II, Sri Shanmuga Nagar, Lakshmi Nagar, and Joy Nagar, with guideline values ranging from Rs 220 to Rs 330 per sq.ft in 2024.

What fees are associated with buying property in Pon Vasantham Nagar?

When buying property, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pon Vasantham Nagar?

The Sub Registrar Office for Pon Vasantham Nagar is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.