Guideline Value for PONNI NAGAR MAMALLAN STREET

Ponni Nagar Mamallan Street guideline value

The current guideline value of Ponni Nagar Mamallan Street is Rs 1,930 per sq.ft. 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 Mamallan Street has changed

The guideline value for Ponni Nagar Mamallan Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,930 per sq.ft, an increase of 10% from Rs 1,750 per sq.ft in the 2023 revision. Prior to that, in 2017, the value was Rs 1,172 per sq.ft, marking a significant increase of 49% from the previous revision in 2023.

In earlier revisions, the guideline value was Rs 1,750 per sq.ft in 2012, which was a decrease of 33% from Rs 1,172 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen an increase of 10%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have 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 aligns with the guideline value of Ponni Nagar Mamallan Street.

• Ponni Nagar Mahaveer Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Maragatham 1st Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Kurinji Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Maragatham 2nd Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Kambar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mullai Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar Mamallan 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, leading to a total of 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 details.

Which Sub Registrar Office covers Ponni Nagar Mamallan Street?

The Sub Registrar Office that covers Ponni Nagar Mamallan 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 is a crucial factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value, as the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Ponni Nagar Mamallan 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, marking a 10% increase. It was Rs 1,172 per sq.ft in 2017, showing a 49% increase from 2023.

What is the land classification for Ponni Nagar Mamallan Street?

Ponni Nagar Mamallan Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

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

What are the stamp duty rates applicable?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same amount.