Guideline Value for PONVIZHA NAGAR

Ponvizha Nagar guideline value

The current guideline value of Ponvizha Nagar, located in Villivakkam village under the Villivakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - III.

How the guideline value of Ponvizha Nagar has changed

The guideline value for Ponvizha Nagar has seen significant changes over the years. In 2003, the value was Rs 435 per sq.ft, which increased to Rs 950 per sq.ft in 2007, marking a rise of 118%. The value then surged to Rs 4,000 per sq.ft in 2012, a remarkable increase of 321%. However, it dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 911%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Ponvizha Nagar's current value below this median.

• Ponvizha Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ponvizha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is essential to note that 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 Ponvizha Nagar?

The Ponvizha Nagar area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

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

When a property is sold, the buyer and seller must refer to the guideline value to calculate the necessary fees. The duty is applied to the higher of the guideline value or the agreed sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponvizha Nagar?

The current guideline value of Ponvizha Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 435 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 911% over this period.

What are the stamp duty and registration fees for property in Ponvizha Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Ponvizha Nagar?

The Villivakkam Sub Registrar Office covers Ponvizha Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Ponvizha Nagar?

The land classification for Ponvizha Nagar is Residential Class III Type - III, indicating its designation for residential use.