Guideline Value for PONNAN 1ST LANE

Ponnan 1st Lane guideline value

The current guideline value of Ponnan 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Ponnan 1st Lane has changed

The guideline value for Ponnan 1st Lane has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017. The value then rose sharply to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision, reflecting a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 150%. Overall, from 2007 to 2024, the guideline value has increased by 172%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for the area is Rs 5,500 per sq.ft, placing Ponnan 1st Lane's 2024 figure below that median.

• Ponnan 2nd Lane: Rs 4,900 per sq.ft (2024)
• Ponnan 3rd Lane: Rs 4,900 per sq.ft (2024)
• Ponnan Cheri: Rs 3,800 per sq.ft (2024)
• Ponnan Street: Rs 4,900 per sq.ft (2024)
• Ponnappa 1st Lane: Rs 4,900 per sq.ft (2024)
• Ponnappa 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnan 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration would be Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnan 1st Lane?

The Sub Registrar Office that covers Ponnan 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a buyer or seller approaches the registration office, the guideline value is used to determine the applicable fees based on the property's size and location. This ensures that all transactions are conducted fairly and transparently, in accordance with the established rates.

Frequently asked questions

What is the current guideline value of Ponnan 1st Lane?

The current guideline value of Ponnan 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ponnan 1st Lane has experienced several revisions, increasing from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with fluctuations in between.

What is the land classification for Ponnan 1st Lane?

Ponnan 1st Lane is classified as Residential Class III Type - II, indicating its suitability for residential development.

Where is the Sub Registrar Office for Ponnan 1st Lane located?

The Sub Registrar Office for Ponnan 1st Lane is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Ponnan 1st Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,43,000.