Guideline Value for PONNIYAMMAN KOIL STREET

Ponniyamman Koil Street guideline value

The current guideline value of Ponniyamman Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO and is classified as Residential Class V Type - I.

How the guideline value of Ponniyamman Koil Street has changed

Over the years, the guideline value for Ponniyamman Koil Street has seen significant changes. The 2007 revision recorded a value of Rs 850 per sq.ft, which increased dramatically to Rs 2,300 per sq.ft in 2012, marking a rise of 171%. However, the value then decreased to Rs 1,541 per sq.ft in 2017, a decline of 33%. From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 2,300 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 194%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, indicating that the guideline value for Ponniyamman Koil Street is below this median.

• Platinum Apartments (Estate Road): Rs 9,900 per sq.ft (2024)
• Pioneer Colony: Rs 13,100 per sq.ft (2024)
• PILLAIYAR KOIL STREET (After Coovam River): Rs 5,400 per sq.ft (2024)
• Prashanthi Apartments: Rs 8,200 per sq.ft (2024)
• RADIAL HOUSE BLOCK 51 To 55: Rs 8,200 per sq.ft (2024)
• Radial House Block No.1 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty, calculated at 7%, would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ponniyamman Koil Street?

The Sub Registrar Office that covers Ponniyamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When buyers or sellers engage in property transactions, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ponniyamman Koil Street?

The current guideline value of Ponniyamman Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased by 194%, from Rs 850 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024.

What is the land classification of Ponniyamman Koil Street?

Ponniyamman Koil Street is classified as Residential Class V Type - I.

Where can I find the registration office for Ponniyamman Koil Street?

The registration office for Ponniyamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at the rate of 7%.