Guideline Value for PONMANACHEMMAL STREET (WARD -8)

Ponmanachemmal Street (Ward -8) guideline value

The current guideline value of Ponmanachemmal Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

Looking at the historical revisions, the guideline value for Ponmanachemmal Street was Rs 804 per sq.ft in 2017, which then increased to Rs 1,200 per sq.ft in 2012. The value saw a significant increase to Rs 1,200 per sq.ft in 2023, marking a rise of 49% from the 2017 figure. The current revision for 2024 shows a further increase to Rs 1,320 per sq.ft, representing a 10% increase from the 2023 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values in 2024 ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Ponmanachemmal Street's 2024 figure above that median.

• Ponmudiar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Poigaialwar Street (Ward -5): Rs 1,320 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 440 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty, calculated at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. Please note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponmanachemmal Street (Ward -8)?

The Sub Registrar Office that covers Ponmanachemmal Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, 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 Panangottur

The guideline value is essential for property transactions in Panangottur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the sale or purchase of properties in the area.

When buying or selling property, it is crucial to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the latest guideline values to avoid any discrepancies during registration.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, with several revisions in between. Notably, the value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024.

What is the land classification for Ponmanachemmal Street?

The land classification for Ponmanachemmal Street (Ward -8) is Residential Special Type - V. This classification is important for determining the permissible uses of the land.

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. This office handles property registrations for the area.

How is stamp duty calculated for properties in Ponmanachemmal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.