Guideline Value for PONNI NAGAR RAJIVKANTHI STREET

Ponni Nagar Rajivkanthi Street guideline value

The current guideline value of Ponni Nagar Rajivkanthi 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, and falls under the Residential Class III Type - I land classification.

How the guideline value of Ponni Nagar Rajivkanthi Street has changed

The guideline value for Ponni Nagar Rajivkanthi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which was then reduced to Rs 1,172 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,750 per sq.ft, and the latest 2024 revision established it at Rs 1,930 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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 guideline value for these streets is Rs 1,930 per sq.ft, which is equal to the current guideline value of Ponni Nagar Rajivkanthi Street.

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

Stamp duty and registration fee for property in Ponni Nagar Rajivkanthi 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 cost for these fees to 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 information.

Which Sub Registrar Office covers Ponni Nagar Rajivkanthi Street?

Ponni Nagar Rajivkanthi Street is covered by 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 details.

How the guideline value is used when you buy or sell in Karambakkam

The guideline value is an essential factor in property transactions in Karambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is crucial for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the property is valued at or above the guideline value helps in avoiding legal complications during the registration process.

Frequently asked questions

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

The current guideline value of Ponni Nagar Rajivkanthi 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 several times, with the most recent revision in 2024 increasing it to Rs 1,930 per sq.ft from Rs 1,750 per sq.ft in 2023, which is a 10% increase. The value was Rs 1,172 per sq.ft in 2017, reflecting a 49% increase from that year to 2023.

What is the land classification for Ponni Nagar Rajivkanthi Street?

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

What are the stamp duty rates applicable for properties in this area?

The stamp duty rate for properties in Ponni Nagar Rajivkanthi Street is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which Sub Registrar Office should I approach for property transactions in Ponni Nagar Rajivkanthi Street?

The Chennai South Joint I Sub Registrar Office covers Ponni Nagar Rajivkanthi Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.