Guideline Value for PONNIYAMMAN KOIL 1ST STREET

Ponniyamman Koil 1st Street guideline value

The current guideline value of Ponniyamman Koil 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Ponniyamman Koil 1st Street has changed

The guideline value for Ponniyamman Koil 1st Street has seen several revisions over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the current guideline value of Ponniyamman Koil 1st Street.

• Ponniyamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil 2nd Cross St: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil 2nd Main 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil 2nd Main 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil 2nd Main 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniyamman Koil 2nd Main 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniyamman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total 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.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ponniyamman Koil 1st Street?

The Ponniyamman Koil 1st Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Ponniyamman Koil 1st Street?

The current guideline value of Ponniyamman Koil 1st 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for this street?

The Neelankarai Sub Registrar Office handles registrations for Ponniyamman Koil 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is the same as the current value for Ponniyamman Koil 1st Street.