Guideline Value for PONNAPPA MUDALI STREET

Ponnappa Mudali Street guideline value

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

How the guideline value of Ponnappa Mudali Street has changed

The guideline value for Ponnappa Mudali Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 150% rise. However, it dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2023, followed by a further rise to the current value of Rs 4,900 per sq.ft in 2024, which is an increase of 9%.

There are no figures available for the revisions in 2002 and 2003 for Ponnappa Mudali 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. The median guideline value for these streets is Rs 5,500 per sq.ft, which means that Ponnappa Mudali Street's 2024 figure is below that median.

• Ponnappa 3rd Lane: Rs 4,900 per sq.ft (2024)
• 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)
• 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 Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees 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.

You can use the stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Ponnappa Mudali Street?

Ponnappa Mudali Street falls under 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 helps determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on a standardized value set by the government.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Ponnappa Mudali Street?

The current guideline value of Ponnappa Mudali 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 median guideline value in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, which is above the current value of Ponnappa Mudali Street.

What are the stamp duty and registration fees for properties on this street?

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.

Where can I find the Sub Registrar Office for Ponnappa Mudali Street?

The Sub Registrar Office covering Ponnappa Mudali Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.