Guideline Value for PONNAPPAN LANE

Ponnappan Lane guideline value

The current guideline value of Ponnappan Lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ponnappan Lane has changed

The guideline value for Ponnappan Lane has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before climbing to Rs 3,500 per sq.ft again in 2023. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 533%. The register does not have figures for Ponnappan Lane for the years 2002 and 2003.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Ponnappan Lane's 2024 value above this median.

• Ponnappa Mudali Street: Rs 3,800 per sq.ft (2024)
• Polu Naicken Street: Rs 4,900 per sq.ft (2024)
• Polaramman Street: Rs 3,200 per sq.ft (2024)
• Pichandi Street: Rs 2,700 per sq.ft (2024)
• Powden Street: Rs 3,800 per sq.ft (2024)
• Praksh Colony: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Ponnappan Lane?

Ponnappan 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Perambur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall financial obligations associated with the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ponnappan Lane?

The current guideline value of Ponnappan Lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 533% over the years.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Ponnappan Lane's value being above this median.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Ponnappan Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000.