Guideline Value for PONNIYAMMAN NAGAR 1ST STREET

Ponniyamman Nagar 1st Street guideline value

The current guideline value of Ponniyamman Nagar 1st Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

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

The guideline value for Ponniyamman Nagar 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. The value saw a significant rise to Rs 900 per sq.ft in 2023, followed by another increase to Rs 990 per sq.ft in 2024, marking a 10% change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 98%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median value is Rs 1,650 per sq.ft, indicating that Ponniyamman Nagar 1st Street's 2024 figure is below this median.

• Ponniyamman Nagar 2nd Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Ist Colony: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Cross Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street 3rd Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street 2nd Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street: Rs 990 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that 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 Ponniyamman Nagar 1st Street?

The Sub Registrar Office that covers Ponniyamman Nagar 1st Street is 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathuvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. 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 Ponniyamman Nagar 1st Street?

The current guideline value of Ponniyamman Nagar 1st Street is Rs 990 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 500 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 98% over the years.

What is the land classification for Ponniyamman Nagar 1st Street?

Ponniyamman Nagar 1st Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ponniyamman Nagar 1st Street is 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.

How is stamp duty calculated for properties in Kolathuvancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.