Guideline Value for Pompozhil Nager Ponga Street

Pompozhil Nager Ponga Street guideline value

The current guideline value of Pompozhil Nager Ponga Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Pompozhil Nager Ponga Street has changed

The guideline value for Pompozhil Nager Ponga Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,000 per sq.ft. This figure was then revised to Rs 670 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

Kovilpathagai has a total of 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Pompozhil Nager Ponga Street's 2024 figure above that median.

• Pompozhil Nager Palaru Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Roja Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Narmathi Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Samanthi Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Mullai Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Sampangi Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pompozhil Nager Ponga Street

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, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pompozhil Nager Ponga Street?

The Sub Registrar Office that covers Pompozhil Nager Ponga Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Pompozhil Nager Ponga Street?

The current guideline value of Pompozhil Nager Ponga Street 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Pompozhil Nager Ponga Street?

The land classification for Pompozhil Nager Ponga Street is Residential Class I Type - I.

Which office handles the registration for Pompozhil Nager Ponga Street?

The Ambattur Sub Registrar Office handles the registration for Pompozhil Nager Ponga Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.