Guideline Value for PONNIAMMAN KOIL CROSS STREET

Ponniamman Koil Cross Street guideline value

The current guideline value of Ponniamman Koil Cross Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam 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 Ponniamman Koil Cross Street has changed

The guideline value for Ponniamman Koil Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, which is an increase from Rs 1,700 per sq.ft in 2023, reflecting a change of +10%. Prior to that, the value was Rs 1,139 per sq.ft in 2017, indicating a significant increase of +49% over the six years. The 2012 revision also recorded a value of Rs 1,700 per sq.ft, which was a decrease of -33% from the 2017 figure. 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. This lack of data indicates that the guideline value was not updated during those years. The historical revisions show a fluctuating trend, with the most notable increases occurring in the recent years.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,540 to Rs 7,500 per sq.ft as of the 2024 revision. The median value for these streets is Rs 2,200 per sq.ft, placing Ponniamman Koil Cross Street's 2024 figure below this median.

• Ponniamman Koil Street: Rs 1,870 per sq.ft (2024)
• Ponniamman Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Pollatchiamman Koil Street: Rs 1,870 per sq.ft (2024)
• Pilliyar Koil Street: Rs 2,750 per sq.ft (2024)
• Poonga 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Poonga 2nd Cross Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, resulting in a total of Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Koil Cross Street?

The Sub Registrar Office that covers Ponniamman Koil 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 information.

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

The guideline value is a crucial factor when registering property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is a mandatory fee that must be paid to the government. This ensures that the transaction is officially recorded and that the necessary taxes are collected based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Cross Street?

The current guideline value of Ponniamman Koil Cross Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2023 to Rs 1,870 per sq.ft in 2024, a change of +10%. It was Rs 1,139 per sq.ft in 2017, and Rs 1,700 per sq.ft in 2012.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which Sub Registrar Office should I visit for transactions in this area?

The Chennai South Joint I Sub Registrar Office covers Ponniamman Koil Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Ponniamman Koil Cross Street?

The land classification for Ponniamman Koil Cross Street is Residential Class III Type - I, indicating its suitability for residential purposes.