Guideline Value for PONGA RESORT

Ponga Resort guideline value

The current guideline value of Ponga Resort is Rs 5,500 per sq.ft, effective from 1 July 2024. It is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Special Type - I.

How the guideline value of Ponga Resort has changed

The guideline value for Ponga Resort has seen several revisions over the years. In 2012, the value was set at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and then further to Rs 5,500 per sq.ft in 2024, marking a total increase of 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value rose by 49%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

Uthandi village has a range of guideline values across its 197 streets under the Neelankarai SRO, with figures ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value is Rs 1,700 per sq.ft, placing Ponga Resort's 2024 figure above this median.

• Ponga College Valagam: 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 Resort

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to 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 higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponga Resort?

The Ponga Resort is covered by 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 is a crucial factor in the registration process when buying or selling property in Uthandi. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value according to the government’s assessment.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ponga Resort?

The current guideline value of Ponga Resort 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 Resort?

Ponga Resort is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for properties in Ponga Resort?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers the area of Ponga Resort?

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