Guideline Value for PONNIAMMAN KOIL STREET 2ND STREET

Ponniamman Koil Street 2nd Street guideline value

The current guideline value of Ponniamman Koil Street 2nd Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Ponniamman Koil Street 2nd Street has changed

The guideline value for Ponniamman Koil Street 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 500 per sq.ft. This figure increased to Rs 900 per sq.ft in 2012, marking an increase of 80%. However, it then decreased to Rs 603 per sq.ft in 2017, reflecting a decline of 33%. The value rose significantly to Rs 900 per sq.ft in 2023, and then further increased to Rs 990 per sq.ft in 2024, which is a rise of 10%.

From 2017 to 2023, the increase was 49%. Overall, from the 2007 revision to the 2024 revision, there has been a total increase of 98%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that Ponniamman Koil Street 2nd Street's 2024 value is below this median.

• Ponniamman Koil Street 3rd Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Cross Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Ist Colony: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street: Rs 990 per sq.ft (2024)
• Ponniyamman Nagar 1st Street: Rs 990 per sq.ft (2024)
• Ponniyamman Nagar 2nd Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil Street 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Koil Street 2nd Street?

The Sub Registrar Office that covers Ponniamman Koil Street 2nd 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 Kolathuvancheri

The guideline value is a crucial factor during the registration of property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of this value to ensure compliance with registration requirements and to avoid potential legal issues.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street 2nd Street?

The current guideline value of Ponniamman Koil Street 2nd Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 500 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 98%.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, which is higher than the current value of Ponniamman Koil Street 2nd Street.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Which office handles registrations for Ponniamman Koil Street 2nd Street?

The registrations for Ponniamman Koil Street 2nd Street are handled by 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.