Guideline Value for Ponappan Street

Ponappan Street guideline value

The current guideline value of Ponappan Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Ponappan Street has changed

The guideline value for Ponappan Street has seen significant changes over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 810 per sq.ft in 2007, marking a substantial increase of 160%. The value further rose to Rs 1,742 per sq.ft in 2017, reflecting a 115% increase from the previous revision. However, there are no figures available for the years 2002 and 2012.

From 2017 to 2023, the guideline value increased by 49%, reaching Rs 2,600 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, bringing the current value to Rs 2,860 per sq.ft. Overall, from 2003 to 2024, the guideline value has increased by 817%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Ponappan Street's 2024 figure above this median.

• Pillayar Koil Street / Durga Nagar: Rs 2,420 per sq.ft (2024)
• Pillayar Koil Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 3rd Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 2nd Street: Rs 2,420 per sq.ft (2024)
• Pillayar Koil 2nd Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Ponappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost to Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponappan Street?

The Sub Registrar Office that covers Ponappan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, thereby helping to maintain transparency in real estate transactions. Buyers and sellers should be aware of the current guideline values to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Ponappan Street?

The current guideline value of Ponappan Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What is the registration office for Ponappan Street?

The registration office for Ponappan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for a property in Ponappan Street?

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 and the registration fee would be Rs 57,200, totaling Rs 2,57,400.

Where can I find more information about the guideline values in Thiruneermalai?

You can find more information about the guideline values in Thiruneermalai by visiting the relevant sections on the Tamil Nadu Registration Department's website.