Guideline Value for PONNIAMMAN KOIL STREET

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil 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 Street has changed

The guideline value for Ponniamman Koil Street has undergone several revisions over the years. In 2003, the guideline value was Rs 89 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 1,700 per sq.ft in 2012, but then decreased to Rs 1,139 per sq.ft in 2017. The value increased again to Rs 1,700 per sq.ft in 2023, and most recently, it has risen to Rs 1,870 per sq.ft in the 2024 revision. Notably, there is no figure available for the year 2002 in the register.

Examining the changes between these revisions reveals substantial fluctuations. From 2003 to 2007, the guideline value increased by 237%, followed by a remarkable 467% rise from 2007 to 2012. However, the value decreased by 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, and the latest revision from 2023 to 2024 shows a 10% increase. Overall, the guideline value has risen by 2001% from 2003 to 2024.

Guideline values in Medavakkam

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

• Ponniamman Koil Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total to 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 Street?

The Sub Registrar Office covering 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. You can find your SRO for additional information.

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

The guideline value is a crucial factor when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value may influence the overall cost of the transaction.

During property registration, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil 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 significantly, starting from Rs 89 per sq.ft in 2003 and reaching Rs 1,870 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Ponniamman Koil Street?

Ponniamman Koil Street is classified as Residential Class III Type - I.

What are the other streets with the same guideline value in Medavakkam?

Other streets in Medavakkam with the same guideline value of Rs 1,870 per sq.ft in 2024 include Ponniamman Koil Cross Street, Ponniamman Nagar 1st Cross Street, Pollatchiamman Koil Street, Poonga 1st Cross Street, and Poonga 2nd Cross Street.

Where can I find the Sub Registrar Office for Ponniamman Koil Street?

The Sub Registrar Office for Ponniamman Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information online.