Guideline Value for Ponmani Nagar Phase-II

Ponmani Nagar Phase-II guideline value

The current guideline value of Ponmani Nagar Phase-II is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - I.

How the guideline value of Ponmani Nagar Phase-II has changed

Over the years, the guideline value for Ponmani Nagar Phase-II has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged in the 2023 revision. The 2024 revision also maintains this value at Rs 800 per sq.ft, indicating no change from the previous year. In contrast, the value increased significantly from Rs 536 per sq.ft in the 2017 revision to Rs 800 per sq.ft in 2023, marking a 49% increase. The 2012 revision to the 2017 revision saw a decrease of 33%.

It is important to note that the guideline value register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 800 per sq.ft.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Ponmani Nagar Phase-II is above this median.

• Ponmani Nagar: Rs 600 per sq.ft (2024)
• Pon Nagar: Rs 500 per sq.ft (2024)
• Ponniamman Kovil Street: Rs 600 per sq.ft (2024)
• Perumal Kovil Street: Rs 300 per sq.ft (2024)
• Perumal Kovil Cross Street: Rs 300 per sq.ft (2024)
• Punitha Anthoniar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponmani Nagar Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value totals Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that 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 Ponmani Nagar Phase-II?

The Sub Registrar Office that covers Ponmani Nagar Phase-II is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Molachoor, as it determines the minimum value at which properties must be registered. This value is used to calculate the stamp duty and registration fees, which are essential costs in any property transaction.

When registering a property, the guideline value serves as a reference point to ensure that the transaction is documented accurately. It helps in maintaining transparency in property transactions and ensures that the state receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value for Ponmani Nagar Phase-II?

The current guideline value for Ponmani Nagar Phase-II is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft from 2012 to 2024, with a significant increase from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023.

What is the land classification for Ponmani Nagar Phase-II?

Ponmani Nagar Phase-II is classified as Residential Special Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles the registration for Ponmani Nagar Phase-II?

The registration for Ponmani Nagar Phase-II is handled by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu.