Guideline Value for PONNIYAMMAN 1ST LANE

Ponniyamman 1st Lane guideline value

The current guideline value of Ponniyamman 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Ponniyamman 1st Lane has changed

The guideline value for Ponniyamman 1st Lane has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 1,100 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, marking a growth of 309%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The next revision in 2023 saw the value rise to Rs 4,500 per sq.ft, followed by the current value of Rs 4,900 per sq.ft in 2024, reflecting a 9% increase.

In summary, from 2007 to 2024, the overall increase in the guideline value is 345%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

Within Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Ponniyamman 1st Lane's current value below this median.

• Ponniyamman 2nd Lane: Rs 4,900 per sq.ft (2024)
• Ponniyamman Street: Rs 4,900 per sq.ft (2024)
• Ponnappa Mudali Street: Rs 4,900 per sq.ft (2024)
• Ponnappa 3rd Lane: Rs 4,900 per sq.ft (2024)
• Ponnappa 2nd Lane: Rs 4,900 per sq.ft (2024)
• Ponnappa 1st Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniyamman 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ponniyamman 1st Lane?

The Sub Registrar Office that covers Ponniyamman 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall transaction costs. Buyers should ensure that the sale price is reflective of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ponniyamman 1st Lane?

The current guideline value of Ponniyamman 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 345% over the years.

What is the land classification for Ponniyamman 1st Lane?

Ponniyamman 1st Lane is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for property in Ponniyamman 1st Lane?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers Ponniyamman 1st Lane?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Ponniyamman 1st Lane.