Guideline Value for PONNI NAGAR KURINJI STREET

Ponni Nagar Kurinji Street guideline value

The current guideline value of Ponni Nagar Kurinji 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 Kurinji Street has changed

The guideline value for Ponni Nagar Kurinji Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,750 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,172 per sq.ft. The value then increased significantly to Rs 1,750 per sq.ft in 2023, followed by the latest revision in 2024, which set the guideline value at Rs 1,930 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was an increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. 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 among these streets is Rs 1,930 per sq.ft, which is the same as the 2024 guideline value for Ponni Nagar Kurinji Street.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 1,930 per sq.ft, the guideline value amounts to Rs 19,30,000. The stamp duty is charged at 7%, which totals Rs 1,35,100, and the registration fee at 2% amounts to Rs 38,600. Together, these fees come to Rs 1,73,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponni Nagar Kurinji Street?

The Sub Registrar Office that covers Ponni Nagar Kurinji 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 in the registration process of property transactions in Karambakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are based on an officially recognized value of the property.

It is essential for buyers and sellers to be aware of the guideline value as it can affect the total cost of the transaction. The guideline value is regularly updated, and it is advisable to check the latest figures before proceeding with any property transaction.

Frequently asked questions

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

The current guideline value of Ponni Nagar Kurinji 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 are the other streets in Karambakkam with the same guideline value?

Other streets in Karambakkam with the same guideline value of Rs 1,930 per sq.ft include Ponni Nagar Kambar Street, Ponni Nagar Mahaveer Street, Ponni Nagar C.V.K. Street, Ponni Nagar Mamallan Street, Ponni Nagar Bharathi Street, and Ponni Nagar Maragatham 1st Street.

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

The Sub Registrar Office for Ponni Nagar Kurinji 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 the stamp duty calculated for properties in Ponni Nagar Kurinji Street?

Stamp duty for properties in Ponni Nagar Kurinji Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees can amount to Rs 1,73,700.