Guideline Value for PONNIAMMAN KOIL 1 TO 3 STREETS

Ponniamman Koil 1 To 3 Streets guideline value

The current guideline value for Ponniamman Koil 1 To 3 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Ponniamman Koil 1 To 3 Streets has changed

The guideline value for Ponniamman Koil 1 To 3 Streets has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. From 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is equal to the current value for Ponniamman Koil 1 To 3 Streets.

• Ponniyamman Koil Street: Rs 2,750 per sq.ft (2024)
• Pilliyar Koil Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street (Part): Rs 2,750 per sq.ft (2024)
• Perumal Salai: Rs 2,750 per sq.ft (2024)
• Prp Nagar: Rs 1,960 per sq.ft (2024)
• Perumal Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil 1 To 3 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Koil 1 To 3 Streets?

The Ponniamman Koil 1 To 3 Streets fall under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value for Ponniamman Koil 1 To 3 Streets?

The current guideline value for Ponniamman Koil 1 To 3 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the registration office for Ponniamman Koil 1 To 3 Streets?

The registration office covering Ponniamman Koil 1 To 3 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur fees totaling Rs 2,47,500.

What does the guideline value indicate?

The guideline value indicates the minimum value set by the government for property transactions in a specific area. It is used to calculate the stamp duty and registration fees during property sales.