Guideline Value for PONNI AMMAN NAGAR

Ponni Amman Nagar guideline value

The current guideline value of Ponni Amman Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Ponni Amman Nagar has changed

The guideline value for Ponni Amman Nagar has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 500% rise. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The value then rose to Rs 600 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 1,600 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the guideline value of Ponni Amman Nagar.

• Rainbow Garden: Rs 1,344 per sq.ft (2024)
• Raj Nagar: Rs 700 per sq.ft (2024)
• Palace Estate City -V: Rs 600 per sq.ft (2024)
• Palace Estate City Phase-II: Rs 600 per sq.ft (2024)
• Rathis Amaravathi: Rs 600 per sq.ft (2024)
• Sare Realty Project Namely Meadowville: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Amman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponni Amman Nagar?

The Sub Registrar Office covering Ponni Amman Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO online for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for assessing the value of the property and determining the applicable stamp duty and registration fees.

When a property is registered, the guideline value is compared to the sale price. The higher of the two is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponni Amman Nagar?

The current guideline value of Ponni Amman Nagar is Rs 600 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 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and returned to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Ponni Amman Nagar?

The land classification for Ponni Amman Nagar is Residential Special Type - I.

Where is the Sub Registrar Office for Ponni Amman Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How is stamp duty calculated for properties in Ponni Amman Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 6,00,000, the stamp duty at 7% would be Rs 42,000.