Guideline Value for PONNI NAGAR RAJARAJAN STREET

Ponni Nagar Rajarajan Street guideline value

The current guideline value of Ponni Nagar Rajarajan 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, classified as Residential Class III Type - I.

How the guideline value of Ponni Nagar Rajarajan Street has changed

In the 2012 revision, the guideline value was Rs 1,750 per sq.ft. This figure remained the same in the 2012 and 2017 revisions. However, in 2017, it dropped significantly to Rs 1,172 per sq.ft. The 2023 revision saw a substantial increase, raising the value to Rs 1,750 per sq.ft, followed by another increase in the 2024 revision, which set the value at Rs 1,930 per sq.ft.

Between the revisions, the guideline value changed as follows: from 2017 to 2023, there was a 49% increase; from 2012 to 2017, there was a decrease of 33%; and overall from 2012 to 2024, the increase was 10%. The register has no figure for this street for the years 2002, 2003, and 2007.

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 is Rs 1,930 per sq.ft, which is the same as the guideline value for Ponni Nagar Rajarajan Street.

• Ponni Nagar Ponniamman Koil 1st Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Rajivkanthi Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Pombugar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Senkuttuvan Cross Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Pari Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Senkuttuvan Street: Rs 1,930 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 1,73,700. 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 Rajarajan Street?

The Sub Registrar Office covering Ponni Nagar Rajarajan 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 in the registration process of property transactions in Karambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is essential for buyers to be aware of this value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

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

The current guideline value of Ponni Nagar Rajarajan 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 seen several changes: 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 Rajarajan Street?

Ponni Nagar Rajarajan Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Ponni Nagar Rajarajan 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 this area?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,30,000, the stamp duty would be Rs 1,35,100 at a rate of 7%.