Guideline Value for PONNI NAGAR KAMBAR STREET

Ponni Nagar Kambar Street guideline value

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

How the guideline value of Ponni Nagar Kambar Street has changed

The guideline value for Ponni Nagar Kambar Street has seen several revisions over the years. The most recent revision, effective from 1 July 2024, sets the value at Rs 1,930 per sq.ft, which is an increase of 10% from the previous year's figure of Rs 1,750 per sq.ft. Prior to that, in 2017, the value was Rs 1,172 per sq.ft, marking a significant increase of 49% over the six-year period.

In earlier revisions, the guideline value was Rs 1,750 per sq.ft in 2012, which was a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karambakkam

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

• Ponni Nagar C.V.K. Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Kurinji Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Bharathi Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mahaveer Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Avvaiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mamallan Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar Kambar 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, and the registration fee at 2% would be Rs 38,600, bringing the total cost 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ponni Nagar Kambar Street?

Ponni Nagar Kambar Street falls under 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 is a crucial factor in property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

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

The current guideline value of Ponni Nagar Kambar 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 2023 to Rs 1,930 per sq.ft in 2024, an increase of 10%. In 2017, the value was Rs 1,172 per sq.ft, which shows a significant increase of 49% over the years.

What is the registration office for Ponni Nagar Kambar Street?

The registration office for Ponni Nagar Kambar 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 Ponni Nagar Kambar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 19,30,000, leading to a stamp duty of Rs 1,35,100.

What other streets have the same guideline value in Karambakkam?

Several other streets in Karambakkam have the same guideline value of Rs 1,930 per sq.ft for 2024, including Ponni Nagar C.V.K. Street, Ponni Nagar Kurinji Street, Ponni Nagar Bharathi Street, Ponni Nagar Mahaveer Street, Ponni Nagar Avvaiyar Street, and Ponni Nagar Mamallan Street.