Guideline Value for Pon Nagar-2

Pon Nagar-2 guideline value

The current guideline value of Pon Nagar-2 is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of Pon Nagar-2 has changed

The guideline value for Pon Nagar-2 has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a 400% increase. However, in the 2017 revision, the value was adjusted down to Rs 670 per sq.ft, a decrease of 33%. The most recent revisions in 2023 and 2024 have maintained the value at Rs 1,000 per sq.ft, showing no change between these two years.

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, there has been a 400% increase in the guideline value.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Pon Nagar-2 is below this median.

• Pon Nagar: Rs 1,006 per sq.ft (2024)
• Prakash Nagar: Rs 1,000 per sq.ft (2024)
• Perumal Koil Street: Rs 1,004 per sq.ft (2024)
• Parvathypuram Part III: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-IV: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-II: Rs 1,003 per sq.ft (2024)

Stamp duty and registration fee for property in Pon Nagar-2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pon Nagar-2?

The Sub Registrar Office that covers Pon Nagar-2 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Vadaperumbakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall cost of the transaction. Buyers should ensure they understand how these values apply to their specific situation to avoid any unexpected expenses.

Frequently asked questions

What is the current guideline value of Pon Nagar-2?

The current guideline value of Pon Nagar-2 is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017. The value has remained at Rs 1,000 per sq.ft in both 2023 and 2024.

What is the median guideline value in Vadaperumbakkam?

The median guideline value in Vadaperumbakkam is Rs 1,003 per sq.ft as of 2024.

What are the stamp duty and registration fees for property in Pon Nagar-2?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.