Guideline Value for PONNI NAGAR MARAGATHAM 2ND STREET

Ponni Nagar Maragatham 2nd Street guideline value

The current guideline value of Ponni Nagar Maragatham 2nd 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, with a land classification of Residential Class III Type - I.

How the guideline value of Ponni Nagar Maragatham 2nd Street has changed

The guideline value for Ponni Nagar Maragatham 2nd Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,750 per sq.ft, which changed to Rs 1,172 per sq.ft in 2017. This was a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,750 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,930 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. 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 with a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, which is equal to the current guideline value of Ponni Nagar Maragatham 2nd Street.

• Ponni Nagar Maragatham 1st Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mullai Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mamallan Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Neithal Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mahaveer Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Pari Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar Maragatham 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,930 per sq.ft, the 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, totaling Rs 1,73,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponni Nagar Maragatham 2nd Street?

The Sub Registrar Office that covers Ponni Nagar Maragatham 2nd 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 critical factor during property registration in Karambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official value set by the government.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency in property transactions and helps in avoiding undervaluation.

Frequently asked questions

What is the current guideline value of Ponni Nagar Maragatham 2nd Street?

The current guideline value of Ponni Nagar Maragatham 2nd 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 back to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,930 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,73,700, based on the guideline value of Rs 19,30,000.

Which office handles registration for Ponni Nagar Maragatham 2nd Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Ponni Nagar Maragatham 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Ponni Nagar Maragatham 2nd Street?

Ponni Nagar Maragatham 2nd Street is classified as Residential Class III Type - I.