Guideline Value for PONNUSAMY NAGAR

Ponnusamy Nagar guideline value

The current guideline value of Ponnusamy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Ponnusamy Nagar has changed

The guideline value for Ponnusamy Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 94 per sq.ft. This increased to Rs 108 per sq.ft in 2003, marking a 15% rise. Following this, the value jumped significantly to Rs 500 per sq.ft in 2007, which was a 363% increase. The value further rose to Rs 1,000 per sq.ft in 2012, reflecting a 100% increase from the previous revision. However, there was a decrease to Rs 670 per sq.ft in 2017, which was a 33% drop. The value then increased to Rs 1,000 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 1,100 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in the years not listed. The overall change from 2002 to 2024 is an increase of 1,070%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Ponnusamy Nagar's 2024 figure below the median.

• Poonamallee High Road: Rs 3,300 per sq.ft (2024)
• Ponnammal Street: Rs 1,100 per sq.ft (2024)
• Ponnamalle High Road: Rs 5,500 per sq.ft (2024)
• Porur Garden 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 1st Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnusamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be 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, totaling Rs 99,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnusamy Nagar?

The Sub Registrar Office that covers Ponnusamy Nagar 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 Vanagaram

The guideline value is a crucial factor during the registration of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that properties are registered at a fair value.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponnusamy Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 94 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 1,070% over the years.

What is the stamp duty rate for properties in Ponnusamy Nagar?

The stamp duty rate for properties in Ponnusamy Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ponnusamy Nagar located?

The Sub Registrar Office for Ponnusamy Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the guideline values of other streets in Vanagaram?

Other streets in Vanagaram have varying guideline values, with Poonamallee High Road at Rs 3,300 per sq.ft, Ponnammal Street at Rs 1,100 per sq.ft, and Ponnamalle High Road at Rs 5,500 per sq.ft, among others.