Guideline Value for PONNAMMAL STREET

Ponnammal Street guideline value

The current guideline value of Ponnammal Street in Vanagaram village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of Ponnammal Street has changed

The guideline value for Ponnammal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,100 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Vanagaram

Within Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Ponnammal Street's 2024 figure below that median.

• Ponnamalle High Road: Rs 5,500 per sq.ft (2024)
• Ponnusamy Nagar: Rs 1,100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Poonamallee High Road: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ponnammal Street?

Ponnammal Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the property registration process in Vanagaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price, ensuring that the fees reflect the property's value accurately.

Frequently asked questions

What is the current guideline value of Ponnammal Street?

The current guideline value of Ponnammal Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value for streets in Vanagaram?

The median guideline value for the 287 streets in Vanagaram is Rs 1,660 per sq.ft, which is higher than the current value of Ponnammal Street.

What are the stamp duty and registration fees for Ponnammal Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Ponnammal Street?

The registration for Ponnammal Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.