Guideline Value for PONNIAMMAN KOIL STREET

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thelliyaragaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II 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 value was Rs 150 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and most recently, it has increased to Rs 1,320 per sq.ft in 2024.

Looking at the changes, the guideline value rose by 700% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Thelliyaragaram

Thelliyaragaram village has 16 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,210 per sq.ft, placing Ponniamman Koil Street's current value above this median.

• Poonamallee High Road: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)
• Ramya Nagar: Rs 1,100 per sq.ft (2024)
• Mayana Salai: Rs 1,100 per sq.ft (2024)
• Taj Nagar: Rs 1,100 per sq.ft (2024)
• Thiruveethiamman Koil Street: Rs 1,650 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

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, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thelliyaragaram. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the correct 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 150 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024. Significant changes include a rise of 700% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

What is the median guideline value for streets in Thelliyaragaram?

The median guideline value for the 16 streets in Thelliyaragaram under the Chennai South Joint I SRO is Rs 1,210 per sq.ft.

What are the stamp duty rates for property in Ponniamman Koil Street?

The stamp duty rate for property transactions in Ponniamman Koil Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering 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 details online.