Guideline Value for PONNAPPA 3RD LANE

Ponnappa 3rd Lane guideline value

The current guideline value of Ponnappa 3rd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Ponnappa 3rd Lane has changed

The guideline value for Ponnappa 3rd Lane has undergone 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, marking a rise of 150%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 4,500 per sq.ft in 2023, and then to Rs 4,900 per sq.ft in 2024, which is a rise of 9% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 172%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

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. The median guideline value in this area is Rs 5,500 per sq.ft, which means that the 2024 figure for Ponnappa 3rd Lane is below this median.

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

Stamp duty and registration fee for property in Ponnappa 3rd 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, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnappa 3rd Lane?

Ponnappa 3rd Lane falls under the jurisdiction of 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 in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the guideline value helps determine the official value of the transaction, ensuring that the appropriate taxes and fees are paid to the government. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Ponnappa 3rd Lane?

The current guideline value of Ponnappa 3rd 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 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 this period.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which is higher than the current guideline value of Ponnappa 3rd Lane.

What are the stamp duty and registration fees for properties in Ponnappa 3rd Lane?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registration for Ponnappa 3rd Lane?

The Purasaivakkam Sub Registrar Office handles property registration for Ponnappa 3rd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.