Guideline Value for PONNERI HIGH ROAD

Ponneri High Road guideline value

The current guideline value of Ponneri High Road is Rs 550 per sq.ft, effective from 1 July 2024. This road is located in Vichoor village under the Thiruvottiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Ponneri High Road has changed

The guideline value for Ponneri High Road has seen several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. Following this, the value rose to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft from the 2024 revision.

Between these revisions, notable changes include a 400% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. Ponneri High Road's 2024 figure of Rs 550 per sq.ft is above this median.

• New Sun City: Rs 550 per sq.ft (2024)
• R.M. Nagar: Rs 330 per sq.ft (2024)
• Muthulakshmi Nagar: Rs 330 per sq.ft (2024)
• Sastha Nagar: Rs 330 per sq.ft (2024)
• Muthaalamman Nagar: Rs 330 per sq.ft (2024)
• Selvam Avenu: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Ponneri High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would amount to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total charges Rs 49,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponneri High Road?

The Sub Registrar Office that covers Ponneri High Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vichoor. It serves as the baseline for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as per the government’s assessment.

When a property is sold, the guideline value is used to calculate the applicable fees, which can affect the overall cost of the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ponneri High Road?

The current guideline value of Ponneri High Road is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What are the other streets in Vichoor and their guideline values?

Other streets in Vichoor include New Sun City at Rs 550 per sq.ft, and R.M. Nagar, Muthulakshmi Nagar, Sastha Nagar, Muthaalamman Nagar, and Selvam Avenu, all at Rs 330 per sq.ft as of 2024.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office, including the Thiruvottiyur Sub Registrar Office, by visiting the relevant online resources provided by the registration department.