Guideline Value for Ponmani Nagar

Ponmani Nagar guideline value

The current guideline value of Ponmani Nagar, located in Molachoor village, is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Ponmani Nagar has changed

In the register, the guideline value for Ponmani Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a significant increase to Rs 402 per sq.ft, marking a 49% rise by the 2023 revision, which also maintained the value at Rs 600 per sq.ft. The 2024 revision has again retained this figure at Rs 600 per sq.ft, showing no change from the previous year.

Additionally, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing an overall change of 0%.

Guideline values in Molachoor

Molachoor village has a total of 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value across these streets is Rs 600 per sq.ft, which matches the current guideline value of Ponmani Nagar.

• Ponmani Nagar Phase-II: Rs 800 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

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponmani Nagar?

The Sub Registrar Office that covers Ponmani Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, 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 an essential factor in the registration process when buying or selling property in Molachoor. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of the transaction.

Buyers and sellers must consider the guideline value in their negotiations, as it serves as a benchmark for property transactions. It is crucial to ensure that the sale price is in line with the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Ponmani Nagar?

The current guideline value of Ponmani Nagar is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2012 revision, with a notable increase from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023. The 2024 revision has maintained this value.

What is the land classification of Ponmani Nagar?

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

What is the stamp duty rate in Ponmani Nagar?

The stamp duty rate in Ponmani Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ponmani Nagar?

The Sub Registrar Office for Ponmani Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.