Guideline Value for Ponbhagiya Nagar

Ponbhagiya Nagar guideline value

The current guideline value of Ponbhagiya Nagar is Rs 1,002 per sq.ft. This area is located in Chettimedu village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ponbhagiya Nagar has changed

The guideline value for Ponbhagiya Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 30 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. Following that, the value remained at Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017. The value saw a notable increase to Rs 400 per sq.ft in 2023, before rising sharply to the current rate of Rs 1,002 per sq.ft in 2024, marking a change of +151% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +3240%. The register has no figure for this street in 2002.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft, with the median value being Rs 1,002 per sq.ft. Ponbhagiya Nagar's 2024 figure aligns with this median value.

• Parvathipuram Part 4: Rs 1,008 per sq.ft (2024)
• Parvathipuram Part 3: Rs 1,008 per sq.ft (2024)
• Parvathipuram Part 2: Rs 1,008 per sq.ft (2024)
• Parvathipuram: Rs 1,000 per sq.ft (2024)
• Parthasarathi Nagar: Rs 1,006 per sq.ft (2024)
• Santhose Colony: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ponbhagiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total cost Rs 90,180. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponbhagiya Nagar?

The Sub Registrar Office covering Ponbhagiya Nagar 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 Chettimedu

The guideline value is an important factor when registering property transactions in Chettimedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to be aware of this value to ensure they are paying a fair price and for sellers to set competitive pricing based on the current guideline value.

Frequently asked questions

What is the current guideline value of Ponbhagiya Nagar?

The current guideline value of Ponbhagiya Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen significant changes, increasing from Rs 30 per sq.ft in 2003 to Rs 1,002 per sq.ft in 2024, representing an overall increase of +3240%.

What is the registration office for Ponbhagiya Nagar?

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

What are the stamp duty and registration fees for property in Ponbhagiya Nagar?

For a property valued at Rs 10,02,000, the stamp duty is Rs 70,140 and the registration fee is Rs 20,040, totaling Rs 90,180.

What is the land classification of Ponbhagiya Nagar?

Ponbhagiya Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.