Guideline Value for PONNUSWAMY STREET

Ponnuswamy Street guideline value

The current guideline value of Ponnuswamy Street in Chinnasekkadu village, under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Ponnuswamy Street has changed

The guideline value for Ponnuswamy Street has undergone several revisions over the years. In 2002, the value was Rs 57 per sq.ft, which increased to Rs 66 per sq.ft in 2003, marking a change of +16%. The value saw significant growth in the following years, reaching Rs 200 per sq.ft in 2007, an increase of +203%. By 2012, the value was Rs 600 per sq.ft, reflecting a +200% rise from the previous revision. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a decline of -33%. The guideline value then increased to Rs 1,000 per sq.ft in 2023, which was a substantial increase of +149% from the 2017 figure. The most recent revision in 2024 set the value at Rs 1,001 per sq.ft, showing no change from the previous year.

There are no figures available for the years not mentioned in the register for this street.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that Ponnuswamy Street's current guideline value is below this median.

• Puddhapiran Street: Rs 1,300 per sq.ft (2024)
• Perumal Koil Street/Mallikai Nagar: Rs 1,001 per sq.ft (2024)
• Radha Street/Nagar: Rs 1,001 per sq.ft (2024)
• Raghavan Street: Rs 1,300 per sq.ft (2024)
• Parthasarathy Street: Rs 1,300 per sq.ft (2024)
• Parthasarathy Gramani Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnuswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost together to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ponnuswamy Street?

The Sub Registrar Office that covers Ponnuswamy Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Chinnasekkadu. It is used to calculate the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the appropriate revenue based on the assessed value of the property.

When selling a property, the guideline value helps establish a baseline for the sale price. Buyers and sellers often refer to the guideline value to ensure that the transaction aligns with the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Ponnuswamy Street?

The current guideline value of Ponnuswamy Street is Rs 1,001 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 57 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of +1656% over the years.

What is the land classification for Ponnuswamy Street?

Ponnuswamy Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Ponnuswamy Street?

The Sub Registrar Office for Ponnuswamy Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Ponnuswamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070 at a rate of 7%.