Guideline Value for PONNI NAGAR POMBUGAR STREET

Ponni Nagar Pombugar Street guideline value

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

The guideline value for Ponni Nagar Pombugar Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,750 per sq.ft. This figure decreased to Rs 1,172 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,750 per sq.ft again. The most recent revision in 2024 set the value at Rs 1,930 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Ponni Nagar Pombugar Street in the register. 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 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 Pombugar Street.

• Ponni Nagar Pari Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Ponniamman Koil 1st Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Neithal Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Rajarajan Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Mullai Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Rajivkanthi Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar Pombugar 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 to Rs 1,73,700. Please note that 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 Pombugar Street?

The Sub Registrar Office that covers Ponni Nagar Pombugar 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 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 to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, based on the established rates set by the Registration Department.

Frequently asked questions

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

The current guideline value of Ponni Nagar Pombugar 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 is the land classification for Ponni Nagar Pombugar Street?

Ponni Nagar Pombugar Street is classified as 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 Pombugar 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 higher of the guideline value or the sale price of the property. For example, a plot of 1,000 sq.ft at the current guideline value would incur a total stamp duty of Rs 1,35,100.