Guideline Value for PONNIAMMAN NAGAR 2ND STREET

Ponniamman Nagar 2nd Street guideline value

The current guideline value of Ponniamman Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ponniamman Nagar 2nd Street has changed

The guideline value for Ponniamman Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase to Rs 2,000 per sq.ft, followed by another increase to Rs 2,200 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value of these streets is Rs 2,200 per sq.ft, making the current guideline value of Ponniamman Nagar 2nd Street equal to this median.

• Ponniamman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman nagar: Rs 2,200 per sq.ft (2024)
• Police station road: Rs 2,200 per sq.ft (2024)
• Pillayar Koil Street Lane: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty would be 7% of this amount, totaling Rs 1,54,000, and the registration fee would be 2%, amounting to Rs 44,000. Therefore, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Nagar 2nd Street?

The Sub Registrar Office covering Ponniamman Nagar 2nd Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay these fees based on the higher of the guideline value or the actual sale price. 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 Nagar 2nd Street?

The current guideline value of Ponniamman Nagar 2nd Street is Rs 2,200 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ponniamman Nagar 2nd Street?

Ponniamman Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Ponniamman Nagar 2nd Street?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,98,000, considering the guideline value of Rs 22,00,000.

Where is the Sub Registrar Office for Ponniamman Nagar 2nd Street located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056, which covers Ponniamman Nagar 2nd Street.