Guideline Value for PONNUSWAMY NAICKAR STREET

Ponnuswamy Naickar Street guideline value

The current guideline value of Ponnuswamy Naickar Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Ponnuswamy Naickar Street has changed

The guideline value for Ponnuswamy Naickar Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 150 per sq.ft, which saw a significant increase to Rs 1,300 per sq.ft in the 2012 revision. However, this value dropped to Rs 871 per sq.ft in the 2017 revision before rising again to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The value remained unchanged from 2023 to 2024, reflecting a 0% change. Over the entire period from 2007 to 2024, the overall increase in guideline value is 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Ponnuswamy Naickar Street above this median.

• POONAMALLEE THIRUVALLUR SALAI (KOSASTHALAI RIVER OVERHEAD BRIDGE to NDP KALYANA MANDABAM): Rs 2,000 per sq.ft (2024)
• Ponnappar Street: Rs 1,000 per sq.ft (2024)
• Poonthaleer Street: Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,000 per sq.ft (2024)
• Phakirathi Amman Street: Rs 1,300 per sq.ft (2024)
• Periyar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnuswamy Naickar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ponnuswamy Naickar Street?

The Sub Registrar Office that covers Ponnuswamy Naickar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to understand the guideline value as it influences the overall costs involved in the registration process. Buyers and sellers should ensure they are aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ponnuswamy Naickar Street?

The current guideline value of Ponnuswamy Naickar Street is Rs 1,300 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 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 767% over the years.

What is the land classification of Ponnuswamy Naickar Street?

Ponnuswamy Naickar Street is classified as Commercial Class I Type - III, indicating its commercial significance in the area.

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

The Sub Registrar Office for Ponnuswamy Naickar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Vengathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.