Guideline Value for Pon Nagar 3rd Street

Pon Nagar 3rd Street guideline value

The current guideline value of Pon Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value of Pon Nagar 3rd Street has seen several revisions. The 2007 revision set the value at Rs 750 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,072 per sq.ft in 2017. In the subsequent revision in 2023, the value rose significantly by 49% to Rs 1,600 per sq.ft, and most recently, it has increased by 6% to the current value of Rs 1,700 per sq.ft effective from 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 127%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values 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, making the 2024 figure for Pon Nagar 3rd Street below that median.

• Pon Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Pon Nagar 2nd Main Road: Rs 1,700 per sq.ft (2024)
• Pon Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Pon Nagar 1st Main Road: 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 3rd 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 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pon Nagar 3rd Street?

The Sub Registrar Office that covers Pon Nagar 3rd 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 of property transactions in Chembakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. If the sale price is higher than the guideline value, the duty is calculated based on the sale price; otherwise, it is based on the guideline value.

Frequently asked questions

What is the current guideline value of Pon Nagar 3rd Street?

The current guideline value of Pon Nagar 3rd 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 the 472 streets in Chembakkam is Rs 2,200 per sq.ft, with Pon Nagar 3rd Street's value being below this median.

What are the stamp duty and registration fees for a property in Pon Nagar 3rd Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Pon Nagar 3rd Street?

The Selaiyur Sub Registrar Office handles registrations for Pon Nagar 3rd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.