Guideline Value for Pon Nagar

Pon Nagar guideline value

The current guideline value of Pon Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Pon Nagar has changed

Over the years, the guideline value for Pon Nagar has seen several revisions. The 2007 revision set the value at Rs 60 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 335 per sq.ft. The value remained the same at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2007 to 2012 was a substantial 733%. Overall, from 2007 to 2024, the guideline value has increased by 733%. This consistent increase reflects the evolving property landscape in the area.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Pon Nagar's 2024 figure is below this median.

• Ponmani Nagar Phase-II: Rs 800 per sq.ft (2024)
• Ponmani Nagar: Rs 600 per sq.ft (2024)
• Ponniamman Kovil Street: Rs 600 per sq.ft (2024)
• Perumal Kovil Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Cross Street: Rs 300 per sq.ft (2024)
• Punitha Anthoniar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Pon Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that 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.

Which Sub Registrar Office covers Pon Nagar?

The Sub Registrar Office that covers Pon Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering a property in Molachoor. It serves as a benchmark for determining the value of the property for stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct amount based on the property's assessed value, which is essential for the registration process.

Frequently asked questions

What is the current guideline value of Pon Nagar?

The current guideline value of Pon Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Molachoor?

The median guideline value in Molachoor is Rs 600 per sq.ft, while Pon Nagar's value is below this median at Rs 500 per sq.ft.

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

For a property valued at Rs 5,00,000 in Pon Nagar, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000.

Where is the Sub Registrar Office for Pon Nagar located?

The Sub Registrar Office for Pon Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.