Guideline Value for PONNUSAMY GARDEN

Ponnusamy Garden guideline value

The current guideline value of Ponnusamy Garden in Karapakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Ponnusamy Garden has changed

The guideline value for Ponnusamy Garden has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure remained until the 2017 revision, where it dropped to Rs 670 per sq.ft. However, by 2023, the value increased significantly to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,100 per sq.ft.

From 2012 to 2017, the value decreased by 33%. Then, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Ponnusamy Garden's 2024 figure below that median.

• Polaris It Co.,: Rs 3,000 per sq.ft (2024)
• P.E.Shankar Garden: Rs 2,200 per sq.ft (2024)
• Perumal Street: Rs 1,700 per sq.ft (2024)
• Periyar Street: Rs 1,100 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,100 per sq.ft (2024)
• Periyapalayathamman Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnusamy Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. 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 to estimate costs for your property transactions.

Which Sub Registrar Office covers Ponnusamy Garden?

The Neelankarai Sub Registrar Office covers Ponnusamy Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions within Karapakkam. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. It ensures that the transaction is documented at a recognized value set by the government.

Additionally, the guideline value is essential for property assessments and determining the value of a property in the eyes of law. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Ponnusamy Garden?

The current guideline value of Ponnusamy Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,000 to Rs 670 in 2017, then back to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024. The most significant change was a 49% increase from 2017 to 2023.

What is the median guideline value in Karapakkam?

The median guideline value for streets in Karapakkam is Rs 1,700 per sq.ft. Ponnusamy Garden's value is below this median.

What are the stamp duty and registration fees for Ponnusamy Garden?

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000 and the registration fee is Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.