Guideline Value for PONNAMMAL STREET

Ponnammal Street guideline value

The current guideline value of Ponnammal Street in Koladi village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Ponnammal Street has changed

Over the years, the guideline value of Ponnammal Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 500 per sq.ft. This increased to Rs 800 per sq.ft in 2012, a rise of 60%. However, it then decreased to Rs 536 per sq.ft in 2017, marking a decline of 33%. In the subsequent revision in 2023, the value rose significantly to Rs 800 per sq.ft, followed by a further increase to Rs 880 per sq.ft in 2024, representing a 10% increase.

There are no recorded figures for Ponnammal Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 76%.

Guideline values in Koladi

In Koladi, there are a total of 175 streets under the Chennai South Joint II SRO, with guideline values in 2024 ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, positioning Ponnammal Street's 2024 figure below this median.

• Perumal Koil Street And 1,2 Corss Street: Rs 1,100 per sq.ft (2024)
• Perumal Koil Street: Rs 1,100 per sq.ft (2024)
• Perukal Koil Corss Street: Rs 1,100 per sq.ft (2024)
• Radha Nagar: Rs 1,100 per sq.ft (2024)
• Periyakolladi Perumal Koil Street: Rs 660 per sq.ft (2024)
• Pattabi Nagar Extension: Rs 2,760 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnammal Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnammal Street?

Ponnammal Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Koladi. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponnammal Street?

The current guideline value of Ponnammal Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 76% over the years.

What is the median guideline value for streets in Koladi?

The median guideline value for streets in Koladi is Rs 1,100 per sq.ft, with Ponnammal Street's 2024 figure being below this median.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 79,200.

Which office handles the registration for Ponnammal Street?

The registration for Ponnammal Street is handled by the Chennai South Joint II Sub Registrar Office, located in Fanepet Nandanam, Chennai.