Guideline Value for PONNI NAGAR C.V.K. STREET

Ponni Nagar C.V.K. Street guideline value

The current guideline value of Ponni Nagar C.V.K. 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 C.V.K. Street has changed

The guideline value for Ponni Nagar C.V.K. Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which was then reduced to Rs 1,172 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,750 per sq.ft in the 2023 revision, and then rose again to Rs 1,930 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the current 2024 figure, there has been an increase of 10%. The register has no figure for this street in the years 2002, 2003, and 2007.

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 guideline value for these streets is Rs 1,930 per sq.ft, which is equal to the current guideline value of Ponni Nagar C.V.K. Street.

• Ponni Nagar Bharathi Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Kambar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Avvaiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Kurinji Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Athiyaman Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mahaveer Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar C.V.K. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value amounts to Rs 19,30,000. The stamp duty at 7% would be Rs 1,35,100, while the registration fee at 2% would be Rs 38,600. Together, the total cost for stamp duty and registration would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponni Nagar C.V.K. Street?

The Sub Registrar Office that covers Ponni Nagar C.V.K. 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

When buying or selling property in Karambakkam, the guideline value is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence negotiations and the final sale price of the property. The registration process will require adherence to the guideline value, making it an important consideration for all real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Ponni Nagar C.V.K. Street?

The current guideline value of Ponni Nagar C.V.K. 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, then increased to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,930 per sq.ft in 2024.

What is the land classification for Ponni Nagar C.V.K. Street?

The land classification for Ponni Nagar C.V.K. Street is Residential Class III Type - I.

Which Sub Registrar Office is responsible for this area?

The Chennai South Joint I Sub Registrar Office is responsible for Ponni Nagar C.V.K. Street, 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 this area?

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