Guideline Value for Pon Nagar 1st Street

Pon Nagar 1st Street guideline value

The current guideline value of Pon Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Pon Nagar 1st Street has changed

The guideline value for Pon Nagar 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, it then dropped to Rs 1,072 per sq.ft in 2017. From 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,600 per sq.ft, followed by another increase to Rs 1,700 per sq.ft in 2024, marking a 6% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 127%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Pon Nagar 1st Street's 2024 figure below that median.

• Pon Nagar 1st Main Road: Rs 1,700 per sq.ft (2024)
• Pon Nagar 2nd Main Road: Rs 1,700 per sq.ft (2024)
• Pon Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Pon Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Prasanth Colony: Rs 2,700 per sq.ft (2024)
• Prasanth Colony 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Pon Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Pon Nagar 1st Street?

The Sub Registrar Office that covers Pon Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pon Nagar 1st Street?

The current guideline value of Pon Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 127% over the years.

What is the median guideline value in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, which is higher than the current guideline value of Pon Nagar 1st Street.

What are the stamp duty and registration fees for properties in Pon Nagar 1st Street?

The stamp duty is 7%, and the registration fee is 2%. For a property valued at Rs 17,00,000, the total fees would amount to Rs 1,53,000.

Where is the Sub Registrar Office for Pon Nagar 1st Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.