Guideline Value for PONNIAMMAN KOIL STREET

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Vengaivasal village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ponniamman Koil Street has changed

The guideline value for Ponniamman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from Rs 1,474 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,200 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for Ponniamman Koil Street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Ponniamman Koil Street is below this median.

• Poonga Street: Rs 3,300 per sq.ft (2024)
• Parthasarathi Nagar: Rs 4,800 per sq.ft (2024)
• PARSN SYNERrGY: Rs 2,750 per sq.ft (2024)
• Paramahamsa Yoganandha Street: Rs 3,700 per sq.ft (2024)
• Rangarajapuarm: Rs 2,700 per sq.ft (2024)
• R.G. Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, leading to a total of Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ponniamman Koil Street?

The Sub Registrar Office that covers Ponniamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Vengaivasal. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties, which are charged on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012.

What is the land classification for Ponniamman Koil Street?

The land classification for Ponniamman Koil Street is Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Ponniamman Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.