Guideline Value for PONAMBALA VADHYAR STREET

Ponambala Vadhyar Street guideline value

The current guideline value of Ponambala Vadhyar Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - II.

How the guideline value of Ponambala Vadhyar Street has changed

The guideline value for Ponambala Vadhyar Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 8,500 per sq.ft. This was followed by a decrease to Rs 5,695 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 8,500 per sq.ft, and then rose again to the current value of Rs 9,300 per sq.ft in 2024, marking a 9% increase from the previous year.

There are no recorded figures for Ponambala Vadhyar Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Ponambala Vadhyar Street's 2024 figure above this median.

• Pirithangi Street: Rs 8,800 per sq.ft (2024)
• Pilot Lane: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street/Lane: Rs 8,800 per sq.ft (2024)
• Pidariyar Koil Street: Rs 8,800 per sq.ft (2024)
• Pichu Pillai Street: Rs 9,300 per sq.ft (2024)
• Pichu Pillai Lane: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponambala Vadhyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total cost for these fees to Rs 8,37,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ponambala Vadhyar Street?

The Sub Registrar Office that covers Ponambala Vadhyar Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is assessed to ensure that the fees are calculated accurately. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ponambala Vadhyar Street?

The current guideline value of Ponambala Vadhyar Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then increased to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,300 per sq.ft in 2024.

What is the land classification of Ponambala Vadhyar Street?

Ponambala Vadhyar Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft property, the total fees would amount to Rs 8,37,000.

Which Sub Registrar Office should I contact for transactions on Ponambala Vadhyar Street?

The Mylapore Sub Registrar Office covers Ponambala Vadhyar Street. It is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.