Guideline Value for PONNAPPAR STREET

Ponnappar Street guideline value

The current guideline value for Ponnappar Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ponnappar Street has changed

The guideline value for Ponnappar Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 125 per sq.ft. This figure saw a significant increase in the 2012 revision to Rs 1,000 per sq.ft, marking a 700% rise. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, representing a decline of 33%. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the current 2024 revision also keeps it at Rs 1,000 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for Ponnappar Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 700%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, which aligns with the guideline value for Ponnappar Street.

• Ponnuswamy Naickar Street: Rs 1,300 per sq.ft (2024)
• POONAMALLEE THIRUVALLUR SALAI (KOSASTHALAI RIVER OVERHEAD BRIDGE to NDP KALYANA MANDABAM): Rs 2,000 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,000 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 per sq.ft (2024)
• Phakirathi Amman Street: Rs 1,300 per sq.ft (2024)
• Periyar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, leading to a total cost of Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ponnappar Street?

The Sub Registrar Office that covers Ponnappar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable stamp duty and registration fees. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Ponnappar Street?

The current guideline value of Ponnappar Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017. It remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Ponnappar Street?

Ponnappar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Ponnappar Street located?

The Sub Registrar Office for Ponnappar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for property in Ponnappar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, along with a registration fee of Rs 20,000, totaling Rs 90,000.