Guideline Value for PONNI NAGAR SENKUTTUVAN CROSS STREET

Ponni Nagar Senkuttuvan Cross Street guideline value

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

How the guideline value of Ponni Nagar Senkuttuvan Cross Street has changed

The guideline value for Ponni Nagar Senkuttuvan Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,750 per sq.ft. This was followed by a decrease to Rs 1,172 per sq.ft in 2017, a significant drop of 33%. However, the value rose to Rs 1,750 per sq.ft again in 2023, marking a 49% increase from the 2017 figure. The most recent revision in 2024 has set the guideline 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 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 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 Senkuttuvan Cross Street.

• Ponni Nagar Rajivkanthi Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Senkuttuvan Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Rajarajan Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Thiruvalluvar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Ponniamman Koil 1st Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar T.V.K.Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar Senkuttuvan Cross 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 be Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, bringing the total 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 precise calculations based on your property's sale price.

Which Sub Registrar Office covers Ponni Nagar Senkuttuvan Cross Street?

The Sub Registrar Office that covers Ponni Nagar Senkuttuvan Cross 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ponni Nagar Senkuttuvan Cross Street?

The current guideline value of Ponni Nagar Senkuttuvan Cross 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 increased 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 Senkuttuvan Cross Street?

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

What are the other streets in Karambakkam with the same guideline value?

Other streets in Karambakkam with the same guideline value of Rs 1,930 per sq.ft include Ponni Nagar Rajivkanthi Street, Ponni Nagar Senkuttuvan Street, Ponni Nagar Rajarajan Street, Ponni Nagar Thiruvalluvar Street, Ponni Nagar Ponniamman Koil 1st Street, and Ponni Nagar T.V.K.Street.

How is stamp duty calculated for properties in Ponni Nagar Senkuttuvan Cross Street?

Stamp duty for properties in Ponni Nagar Senkuttuvan Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.