Guideline Value for PONMUDIAR STREET (WARD -6)

Ponmudiar Street (Ward -6) guideline value

The current guideline value of Ponmudiar Street (Ward -6) 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 Ponmudiar Street (Ward -6) has changed

The guideline value for Ponmudiar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision has further raised it to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes, the guideline value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

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

• Ponmanachemmal Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Poigaialwar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,320 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)

Stamp duty and registration fee for property in Ponmudiar Street (Ward -6)

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 at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to 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 Ponmudiar Street (Ward -6)?

The Sub Registrar Office that covers Ponmudiar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 a crucial factor when registering property transactions in Panangottur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring compliance with the legal requirements during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value helps in assessing the proper fees to be paid to the government. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ponmudiar Street (Ward -6)?

The current guideline value of Ponmudiar Street (Ward -6) 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 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value also saw a significant increase from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023.

What is the land classification for Ponmudiar Street?

The land classification for Ponmudiar Street (Ward -6) is Residential Special Type - V.

Where is the Chengleput Joint II Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Ponmudiar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 92,400.