Guideline Value for PONNI NAGAR V.O.C. STREET

Ponni Nagar V.O.C. Street guideline value

The current guideline value of Ponni Nagar V.O.C. 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, with a land classification of Residential Class III Type - I.

How the guideline value of Ponni Nagar V.O.C. Street has changed

The guideline value for Ponni Nagar V.O.C. Street has undergone several revisions. In 2012, the guideline value was Rs 1,750 per sq.ft, which decreased to Rs 1,172 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,750 per sq.ft in 2023, and then rose to Rs 1,930 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a guideline value for 2024, 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 the same as the current value for Ponni Nagar V.O.C. Street.

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

Stamp duty and registration fee for property in Ponni Nagar V.O.C. 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. 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 V.O.C. Street?

The Sub Registrar Office covering Ponni Nagar V.O.C. 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 crucial factor in the registration process of property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ponni Nagar V.O.C. Street?

The current guideline value of Ponni Nagar V.O.C. 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 registration fee for properties in Ponni Nagar V.O.C. Street?

The registration fee for properties is typically 2% of the guideline value. For example, for a property valued at Rs 19,30,000, the registration fee would be Rs 38,600.

Which Sub Registrar Office handles Ponni Nagar V.O.C. Street?

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

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for determining the minimum value for property registration. It ensures that the appropriate stamp duty and registration fees are collected based on the higher of the guideline value or the sale price.