Guideline Value for PONNAN STREET

Ponnan Street guideline value

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

How the guideline value of Ponnan Street has changed

The guideline value for Ponnan Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a significant rise of 150%. However, this value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent 2024 revision increased it to Rs 4,900 per sq.ft, reflecting a change of 9%.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Ponnan Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in Ponnan Street

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, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the 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 Ponnan Street?

The Sub Registrar Office that covers Ponnan Street 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 critical factor in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be paid to complete the transaction legally. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ponnan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 172% over the years.

What is the land classification of Ponnan Street?

Ponnan Street is classified under Residential Class III Type - II land classification.

What are the stamp duty and registration fees for a property in Ponnan Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where can I find the Sub Registrar Office for Ponnan Street?

The Sub Registrar Office for Ponnan Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information by visiting the appropriate link.