Guideline Value for Ponds Colony/Company

Ponds Colony/Company guideline value

The current guideline value for Ponds Colony/Company in Issa Pallavaram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Mixed Type - II land.

How the guideline value of Ponds Colony/Company has changed

The guideline value for Ponds Colony/Company has seen several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and further rose to Rs 4,400 per sq.ft in the 2024 revision.

Between the revisions, the changes are notable. The increase from 2023 to 2024 was 10%, while the jump from 2017 to 2023 was 49%. The decrease from 2012 to 2017 was 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 3,300 per sq.ft. Ponds Colony/Company's 2024 figure of Rs 4,400 per sq.ft is above this median.

• P.P.Amman Koil St, Western Portion: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,850 per sq.ft (2024)
• Pudu Street: Rs 4,400 per sq.ft (2024)
• Purusothaman Street: Rs 3,300 per sq.ft (2024)
• Periyapalaiyathamman Koil St.(E): Rs 3,300 per sq.ft (2024)
• Railway Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponds Colony/Company

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Ponds Colony/Company?

The Sub Registrar Office that covers Ponds Colony/Company is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Issa Pallavaram

The guideline value is a critical factor in property transactions in Issa Pallavaram. It serves as the baseline for calculating stamp duty and registration fees when buying or selling property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps in maintaining transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value for Ponds Colony/Company?

The current guideline value for Ponds Colony/Company is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Ponds Colony/Company?

Ponds Colony/Company is classified as Mixed Type - II land according to the registration guidelines.

Where can I find the Sub Registrar Office for Ponds Colony/Company?

The Sub Registrar Office for Ponds Colony/Company is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Ponds Colony/Company?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.