Guideline Value for PONMANACHEMMAL STREET (WARD -8)

Ponmanachemmal Street (Ward -8) guideline value

The current guideline value of Ponmanachemmal Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Ponmanachemmal Street (Ward -8) has changed

The guideline value for Ponmanachemmal Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, a rise of 49%. The most recent revision in 2024 has increased the guideline value to Rs 1,321 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 10% in the guideline value.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing the 2024 value of Ponmanachemmal Street above this median.

• Ponmudiar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Poigaialwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Pilliyar Koil Street (Ward -3): Rs 990 per sq.ft (2024)
• Pilliyar Koil Street (Ward -2): Rs 660 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Ponmanachemmal Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, making the total cost for these fees Rs 1,18,890. Please note that 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 Ponmanachemmal Street (Ward -8)?

The Chengleput Joint II Sub Registrar Office covers Ponmanachemmal Street (Ward -8). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

When a property is sold, the guideline value helps in establishing the minimum value for the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ponmanachemmal Street (Ward -8)?

The current guideline value of Ponmanachemmal Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024, a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification of Ponmanachemmal Street?

Ponmanachemmal Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 at a rate of 7%.