Guideline Value for PONNIAMMAN AVENUE

Ponniamman Avenue guideline value

The current guideline value of Ponniamman Avenue in Karambakkam village is Rs 1,930 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Ponniamman Avenue has changed

The guideline value for Ponniamman Avenue has seen significant changes over the years. In 2002, the value was Rs 145 per sq.ft, and it increased to Rs 167 per sq.ft in 2003. The value then rose sharply to Rs 350 per sq.ft in 2007, showing a 110% increase. Following this, the value surged to Rs 1,750 per sq.ft in 2012, reflecting a 400% increase. However, it dropped to Rs 1,172 per sq.ft in 2017, marking a decrease of 33%. The value then increased to Rs 1,750 per sq.ft in 2023, and finally, it reached Rs 1,930 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1231%. There are no revisions with figures missing 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 value is Rs 1,930 per sq.ft, which is the same as the current guideline value for Ponniamman Avenue.

• Ponni Nagar: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Agathiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Athiyaman Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Avvaiyar Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar Bharathi Street: Rs 1,930 per sq.ft (2024)
• Ponni Nagar C.V.K. Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,930 per sq.ft, the 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, totaling Rs 1,73,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponniamman Avenue?

The Sub Registrar Office that covers Ponniamman Avenue 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 the registration process of property transactions in Karambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponniamman Avenue?

The current guideline value of Ponniamman Avenue 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 significantly, increasing from Rs 145 per sq.ft in 2002 to Rs 1,930 per sq.ft in 2024, which is an overall increase of 1231%.

What is the stamp duty for property in Ponniamman Avenue?

The stamp duty for property in Ponniamman Avenue is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration in this area?

The Chennai South Joint I Sub Registrar Office handles property registration for Ponniamman Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

Are there other streets with the same guideline value in Karambakkam?

Yes, there are several other streets in Karambakkam, such as Ponni Nagar and Ponni Nagar Agathiyar Street, which also have a guideline value of Rs 1,930 per sq.ft in 2024.