Guideline Value for PONNI NAGAR T.V.K.STREET

Ponni Nagar T.V.K.Street guideline value

The current guideline value of Ponni Nagar T.V.K.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 T.V.K.Street has changed

The guideline value for Ponni Nagar T.V.K.Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,750 per sq.ft. This figure remained the same in the 2012 revision, but by 2017, it decreased to Rs 1,172 per sq.ft. Following this, the value increased significantly to Rs 1,750 per sq.ft in the 2023 revision, and then further to Rs 1,930 per sq.ft in the 2024 revision. The changes between these revisions include a decrease of 33% from 2012 to 2017, a substantial increase of 49% from 2017 to 2023, and a 10% rise from 2023 to 2024.

The register has no 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 value for these streets is Rs 1,930 per sq.ft, which is equal to the current guideline value of Ponni Nagar T.V.K.Street.

• Ponni Nagar Thiruvalluvar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Vallalar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Senkuttuvan Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Vivekananth Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Senkuttuvan Cross Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar V.O.C. Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar T.V.K.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, resulting in a total of Rs 1,73,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponni Nagar T.V.K.Street?

The Sub Registrar Office that covers Ponni Nagar T.V.K.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 is used to determine the stamp duty and registration fees that buyers and sellers must pay when a property is sold. Buyers need to be aware that the guideline value is often used as a benchmark for the minimum price at which a property can be registered.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures that the transaction is transparent and that the government receives the appropriate tax revenue from property sales.

Frequently asked questions

What is the current guideline value of Ponni Nagar T.V.K.Street?

The current guideline value of Ponni Nagar T.V.K.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 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 property in Ponni Nagar T.V.K.Street?

For a property valued at Rs 19,30,000, the stamp duty is Rs 1,35,100 and the registration fee is Rs 38,600, totaling Rs 1,73,700.

Which Sub Registrar Office covers Ponni Nagar T.V.K.Street?

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

What is the land classification of Ponni Nagar T.V.K.Street?

The land classification for Ponni Nagar T.V.K.Street is Residential Class III Type - I.