Guideline Value for PONNI COLONY

Ponni Colony guideline value

The current guideline value for Ponni Colony, located in Villivakkam village under the Villivakkam SRO, is Rs 9,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Ponni Colony has changed

The guideline value for Ponni Colony has seen several revisions over the years. In 2002, the guideline value was Rs 1,100 per sq.ft. This increased to Rs 1,255 per sq.ft in 2003, marking a 14% rise. The value then experienced a substantial increase to Rs 2,550 per sq.ft in 2007, which was a 103% change. By 2012, the value adjusted to Rs 9,000 per sq.ft, reflecting a 253% increase from the previous revision. However, in 2017, it dropped to Rs 6,030 per sq.ft, a decrease of 33%.

In the following years, the value rose again, reaching Rs 9,000 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 9,800 per sq.ft, representing a 9% increase from the previous year. There are no figures available for the revisions in years not listed in the register 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, with a median value of Rs 4,900 per sq.ft. Ponni Colony's current guideline value is above this median.

• PONNI COLONY 25th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 26th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 27th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 28th STREET: Rs 9,800 per sq.ft (2024)
• PONNI COLONY 29th STREET: Rs 9,800 per sq.ft (2024)
• Ponni Colony Main Road: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 8,82,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponni Colony?

The Sub Registrar Office that covers Ponni Colony 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 plays a crucial role in property transactions within Villivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal and financial regulations during the transaction process.

When registering a property, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Ponni Colony?

The current guideline value for Ponni Colony 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 1,100 per sq.ft in 2002 to Rs 9,800 per sq.ft in 2024, marking an overall increase of 791% over the years.

What is the land classification for Ponni Colony?

Ponni Colony is classified as Residential Class I Type - III, which indicates its zoning for residential purposes.

What are the stamp duty and registration fees for properties in Ponni Colony?

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 registrations in Ponni Colony?

The Villivakkam Sub Registrar Office is responsible for property registrations in Ponni Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.