Guideline Value for PONNI COLONY 29th STREET

PONNI COLONY 29th STREET guideline value

The current guideline value of PONNI COLONY 29th STREET is Rs 9,800 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class I Type - III.

How the guideline value of PONNI COLONY 29th STREET has changed

The guideline value for PONNI COLONY 29th STREET has seen several revisions over the years. The 2007 revision set the value at Rs 2,550 per sq.ft, which increased significantly to Rs 9,000 per sq.ft in the 2012 revision. However, there was a decrease to Rs 6,030 per sq.ft in the 2017 revision. From 2017 to 2023, the value rose to Rs 9,000 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 9,800 per sq.ft.

In terms of percentage changes, from 2007 to 2012, there was a notable increase of 253%. Following that, from 2012 to 2017, the value decreased by 33%. The period from 2017 to 2023 saw a significant increase of 49%, and from 2023 to 2024, the value rose by 9%. Overall, from 2007 to 2024, the guideline value has increased by 284%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value is Rs 4,900 per sq.ft, indicating that PONNI COLONY 29th STREET's 2024 figure is above that median.

• PONNI COLONY 28th STREET: Rs 9,800 per sq.ft (2024)
• Ponni Colony Main Road: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 27th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 26th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 25th STREET: Rs 9,800 per sq.ft (2024)
• Ponni Colony: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in PONNI COLONY 29th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value would be Rs 98,00,000. The stamp duty at 7% would amount to Rs 6,86,000, while the registration fee at 2% would be Rs 1,96,000. Together, the total cost for stamp duty and registration fee would be Rs 8,82,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers PONNI COLONY 29th STREET?

PONNI COLONY 29th STREET falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Villivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid to the government. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

Additionally, the guideline value ensures that the property is assessed fairly for taxation purposes. This value is regularly updated to reflect changes in the real estate market, providing a transparent basis for property transactions in the area.

Frequently asked questions

What is the current guideline value of PONNI COLONY 29th STREET?

The current guideline value of PONNI COLONY 29th STREET is Rs 9,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,550 per sq.ft in 2007 to Rs 9,800 per sq.ft in 2024, reflecting an overall increase of 284% over the years.

What are the stamp duty and registration fees for property in PONNI COLONY 29th STREET?

For a property valued at Rs 98,00,000, the stamp duty would be Rs 6,86,000 and the registration fee would be Rs 1,96,000, totaling Rs 8,82,000.

Which office handles property registration for PONNI COLONY 29th STREET?

The Villivakkam Sub Registrar Office is responsible for property registration in PONNI COLONY 29th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, with PONNI COLONY 29th STREET's 2024 value being above this median.