Guideline Value for Pon Thottam

Pon Thottam guideline value

The current guideline value for Pon Thottam, located in Parangimalai village, is Rs 2,750 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification. The relevant Sub Registrar Office for this area is the Chennai South Joint II SRO.

How the guideline value of Pon Thottam has changed

The guideline value for Pon Thottam has seen several revisions over the years. In 2002, the value was Rs 303 per sq.ft, which increased to Rs 413 per sq.ft in 2003. The value then rose significantly to Rs 800 per sq.ft in 2007, followed by a jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value was revised to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,750 per sq.ft. There are no figures available for this street in the revisions prior to 2002 or between 2017 and 2023.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 213% increase from 2007 to 2012, a 94% increase from 2003 to 2007, and a 36% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 808%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that the guideline value for Pon Thottam is below this median.

• Poompuhar Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 1st street: Rs 2,750 per sq.ft (2024)
• Poonthottam 2nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 3nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 4th Street: Rs 2,750 per sq.ft (2024)
• Poonthottam Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pon Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pon Thottam?

The Sub Registrar Office that covers Pon Thottam is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are based on a standardized value, which helps maintain transparency in property transactions within the area.

Frequently asked questions

What is the current guideline value for Pon Thottam?

The current guideline value for Pon Thottam is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 303 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 808% since 2002.

What is the land classification for Pon Thottam?

Pon Thottam falls under the Residential Class III Type - I land classification, which is relevant for property transactions in this area.

Where can I find the Sub Registrar Office for Pon Thottam?

The Sub Registrar Office for Pon Thottam is the Chennai South Joint II SRO, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated in Pon Thottam?

Stamp duty and registration fees are calculated based on the guideline value of the property. The duty is charged on the higher of the guideline value or the sale price, ensuring that the fees reflect the property's value accurately.