Guideline Value for PONNI COLONY MAIN ROAD

Ponni Colony Main Road guideline value

The current guideline value of Ponni Colony Main Road 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 Main Road has changed

Over the years, the guideline value of Ponni Colony Main Road has seen significant changes. In the 2007 revision, the value was Rs 2,550 per sq.ft. This increased to Rs 9,000 per sq.ft in 2012, marking a substantial rise of 253%. However, the value dropped to Rs 6,030 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw a return to Rs 9,000 per sq.ft, followed by a further increase to the current value of Rs 9,800 per sq.ft in 2024, which is a rise of 9%.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 284%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Ponni Colony Main Road's 2024 figure above this median.

• PONNI COLONY 29th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 28th STREET: 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 Main Road

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 be Rs 6,86,000, and the registration fee at 2% would be Rs 1,96,000, totaling Rs 8,82,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponni Colony Main Road?

The Sub Registrar Office covering Ponni Colony Main Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 is a critical factor during property registration in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ponni Colony Main Road?

The current guideline value of Ponni Colony Main Road 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 significantly from Rs 2,550 per sq.ft in 2007 to Rs 9,800 per sq.ft in 2024, reflecting an overall increase of 284%.

What is the land classification for Ponni Colony Main Road?

Ponni Colony Main Road is classified as Residential Class I Type - III.

What other streets in Villivakkam have the same guideline value?

Other streets in Villivakkam with the same guideline value of Rs 9,800 per sq.ft include PONNI COLONY 29th STREET, PONNI COLONY 28th STREET, PONNI COLONY 27th STREET, PONNI COLONY 26th STREET, and PONNI COLONY 25th STREET.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.