Guideline Value for PONNI NAGAR 3rd CROSS STREET

PONNI NAGAR 3rd CROSS STREET guideline value

The current guideline value for PONNI NAGAR 3rd CROSS STREET is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO and is classified as Commercial Class I Type - II.

How the guideline value of PONNI NAGAR 3rd CROSS STREET has changed

The guideline value for PONNI NAGAR 3rd CROSS STREET has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The current value of Rs 2,750 per sq.ft from the 2024 revision reflects a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. PONNI NAGAR 3rd CROSS STREET's 2024 figure of Rs 2,750 per sq.ft is above this median.

• Ponni Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Ponni Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Ponni Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Poombhugar Nagar ( Kudusai Part ): Rs 1,980 per sq.ft (2024)
• Poompukar Nagar ,1st Street,: Rs 1,980 per sq.ft (2024)
• Poompukar Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in PONNI NAGAR 3rd CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 PONNI NAGAR 3rd CROSS STREET?

The PONNI NAGAR 3rd CROSS STREET falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for PONNI NAGAR 3rd CROSS STREET?

The current guideline value for PONNI NAGAR 3rd CROSS STREET is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for PONNI NAGAR 3rd CROSS STREET?

PONNI NAGAR 3rd CROSS STREET is classified as Commercial Class I Type - II. This classification may affect the types of developments and activities permitted in the area.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. This office handles the registration of properties in the area.

How is the stamp duty calculated in Pammal?

Stamp duty in Pammal is calculated based on the guideline value or the sale price, whichever is higher. The current stamp duty rate is 7%, and there is also a registration fee of 2% applicable on the guideline value.