Guideline Value for PONGA COLLEGE VALAGAM

Ponga College Valagam guideline value

The current guideline value of Ponga College Valagam is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Uthandi village and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ponga College Valagam has changed

The guideline value for Ponga College Valagam has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then reduced to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value increased to Rs 5,000 per sq.ft in the 2023 revision, and finally rose to Rs 5,500 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, positioning Ponga College Valagam's 2024 figure above that median.

• Ponga Resort: Rs 5,500 per sq.ft (2024)
• Poonga Educational Trust: Rs 5,500 per sq.ft (2024)
• PIDARIAMMAN KOIL 2nd STREET: Rs 2,200 per sq.ft (2024)
• PIDARIAMMAN KOIL 1st STREET: Rs 2,200 per sq.ft (2024)
• Prabhu-Stain Garden: Rs 1,100 per sq.ft (2024)
• Periyar Salai: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ponga College Valagam

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ponga College Valagam?

The Sub Registrar Office that covers Ponga College Valagam is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Uthandi. 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 sold, the guideline value is considered to ensure that the transaction is registered at a fair price. This helps maintain transparency in property transactions and ensures that all parties comply with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ponga College Valagam?

The current guideline value of Ponga College Valagam is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Ponga College Valagam?

Ponga College Valagam is classified as Residential Special Type - I according to the land classification regulations.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Uthandi?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.