Guideline Value for PONNIAMMAN KOIL STREET

Ponniamman Koil Street guideline value

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

How the guideline value of Ponniamman Koil Street has changed

Over the years, the guideline value of Ponniamman Koil Street has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 500 per sq.ft. This increased to Rs 900 per sq.ft in 2012, marking an 80% rise. However, in 2017, the value decreased to Rs 603 per sq.ft, reflecting a 33% drop. The guideline value then experienced significant growth, rising to Rs 900 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 990 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Ponniamman Koil Street. Overall, from 2007 to 2024, the guideline value has increased by 98%.

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, with a median value of Rs 1,650 per sq.ft. The guideline value of Ponniamman Koil Street is below this median.

• Ponniamman Koil Street 2nd Street: Rs 990 per sq.ft (2024)
• 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)
• 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

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 total Rs 19,800. Together, the total cost for these fees would be Rs 89,100. It is important to note that 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 detailed calculations.

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 information.

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

The guideline value is a crucial factor when buying or selling property in Kolathuvancheri. It determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and legally.

When a buyer decides to purchase a property, the registration office will use the guideline value to assess the fees due. This ensures that both the buyer and seller are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil 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 changed from Rs 500 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, showing an overall increase of 98% over this period.

What is the classification of land on Ponniamman Koil Street?

Ponniamman Koil Street is classified as Residential Class IV Type - II, indicating its suitability for residential purposes.

Where can I find the registration office for Ponniamman Koil Street?

The registration office for Ponniamman Koil 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.

How is the stamp duty calculated for properties in Kolathuvancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 9,90,000 would incur a stamp duty of Rs 69,300 at 7%.