Guideline Value for PONNIAMMAN KOIL STREET

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV 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. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 1,650 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 450% in the guideline value for Ponniamman Koil Street. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Ponniamman Koil Street's 2024 figure is below the median.

• Pillaiyar Koil Street Joint Road: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Prince Highland: Rs 5,610 per sq.ft (2024)
• Perumal Koil Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 5th Street: Rs 1,980 per sq.ft (2024)
• Perumal Koil 4th Street: Rs 1,980 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fee would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Koil Street?

Ponniamman Koil Street is covered 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. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Iyyappanthangal. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450% over the years.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500.

Which Sub Registrar Office handles registrations for Ponniamman Koil Street?

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

What is the median guideline value in Iyyappanthangal?

The median guideline value in Iyyappanthangal is Rs 2,200 per sq.ft, which is higher than the current guideline value of Ponniamman Koil Street.