Guideline Value for Poniyamman Koil Street

Poniyamman Koil Street guideline value

The current guideline value of Poniyamman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Poniyamman Koil Street has changed

Over the years, the guideline value of Poniyamman Koil Street has seen several revisions. The earliest recorded figure was Rs 215 per sq.ft in 2003, which increased to Rs 300 per sq.ft in 2007. Following this, the value surged to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and it has now risen to Rs 2,700 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 40% from 2003 to 2007, followed by a significant rise of 733% from 2007 to 2012. However, there was a decline of 33% from 2012 to 2017, which was then followed by a 49% increase from 2017 to 2023. The latest change from 2023 to 2024 represents an 8% increase. Overall, from 2003 to 2024, the guideline value has increased by 1156%. The register has no figure for the year 2002 for this street.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Poniyamman Koil Street.

• Police Lane: Rs 2,700 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,850 per sq.ft (2024)
• Prince Street: Rs 2,700 per sq.ft (2024)
• Puviamman Koil Street: Rs 2,750 per sq.ft (2024)
• Periya Palayathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Queen Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Poniyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Poniyamman Koil Street?

The Sub Registrar Office that covers Poniyamman Koil Street 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 Cantonment Pallavaram

When buying or selling property in Cantonment Pallavaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Poniyamman Koil Street?

The current guideline value of Poniyamman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 215 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Poniyamman Koil Street?

Poniyamman Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Poniyamman Koil Street?

The Sub Registrar Office for Poniyamman Koil Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. The current rates are 7% for stamp duty and 2% for the registration fee.