Guideline Value for PONNI NAGAR BHARATHI STREET

Ponni Nagar Bharathi Street guideline value

The current guideline value of Ponni Nagar Bharathi Street is Rs 1,930 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ponni Nagar Bharathi Street has changed

The guideline value for Ponni Nagar Bharathi Street has seen several revisions over the years. In 2012, the value was Rs 1,750 per sq.ft, which then decreased to Rs 1,172 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,750 per sq.ft in 2023, and then to Rs 1,930 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, which is the same as the guideline value for Ponni Nagar Bharathi Street.

• Ponni Nagar Avvaiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar C.V.K. Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Athiyaman Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Kambar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Agathiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Kurinji Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar Bharathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value would be Rs 19,30,000. The stamp duty at 7% would amount to Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, bringing the total to Rs 1,73,700. 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 Nagar Bharathi Street?

The Sub Registrar Office that covers Ponni Nagar Bharathi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Karambakkam. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ponni Nagar Bharathi Street?

The current guideline value of Ponni Nagar Bharathi Street is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017. It then increased to Rs 1,750 per sq.ft in 2023 and reached Rs 1,930 per sq.ft in 2024.

What is the land classification for Ponni Nagar Bharathi Street?

Ponni Nagar Bharathi Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Ponni Nagar Bharathi Street?

The Sub Registrar Office for Ponni Nagar Bharathi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Karambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 19,30,000, stamp duty at 7% would be Rs 1,35,100.