Guideline Value for Ponmanasemmal Street S.No.394/2

Ponmanasemmal Street S.No.394/2 guideline value

The current guideline value of Ponmanasemmal Street S.No.394/2 is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Ponmanasemmal Street S.No.394/2 has changed

The guideline value for Ponmanasemmal Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 213% rise. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, reflecting a 33% drop. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, which was a 49% rise from the previous revision. Currently, the guideline value stands at Rs 2,700 per sq.ft as per the 2024 revision, which is an 8% increase from 2023.

It is important to note that the register has no figures for Ponmanasemmal Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Ponmanasemmal Street S.No.394/2 is below this median.

• Ponnambalam Salai: Rs 8,800 per sq.ft (2024)
• Ponnammal Nagar: Rs 4,100 per sq.ft (2024)
• Police Quarters: Rs 7,600 per sq.ft (2024)
• Police Qtrs 61st Street: Rs 4,100 per sq.ft (2024)
• Police Qtrs 34th Street: Rs 4,100 per sq.ft (2024)
• Pilliaiyar Koil Street Block 91, 92: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ponmanasemmal Street S.No.394/2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponmanasemmal Street S.No.394/2?

The Sub Registrar Office that covers Ponmanasemmal Street S.No.394/2 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ponmanasemmal Street S.No.394/2?

The current guideline value of Ponmanasemmal Street S.No.394/2 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 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 238% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Ponmanasemmal Street S.No.394/2, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Ponmanasemmal Street S.No.394/2?

The land classification for Ponmanasemmal Street S.No.394/2 is Residential Class IV Type - III.