Guideline Value for Ponmnangipuram 2nd Street

Ponmnangipuram 2nd Street guideline value

The current guideline value of Ponmnangipuram 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ponmnangipuram 2nd Street has changed

The guideline value for Ponmnangipuram 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it dropped to Rs 4,690 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 7,000 per sq.ft in 2023, followed by a further increase to Rs 7,700 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 285%. It is important to note that the register has no figures for Ponmnangipuram 2nd Street for the years 2002 and 2003.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, positioning Ponmnangipuram 2nd Street's current value below this median.

• Ponnangi puram 1st Street: Rs 7,700 per sq.ft (2024)
• Post Office Road: Rs 7,700 per sq.ft (2024)
• Perumal Mudali Street (Extention): Rs 7,700 per sq.ft (2024)
• Perumal Mudali Lane: Rs 7,700 per sq.ft (2024)
• Prakadambal Road: Rs 8,800 per sq.ft (2024)
• Pushpa Nagar 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponmnangipuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponmnangipuram 2nd Street?

The Sub Registrar Office that covers Ponmnangipuram 2nd Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nungambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The authorities will charge duty based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponmnangipuram 2nd Street?

The current guideline value of Ponmnangipuram 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 285% over the years.

What is the median guideline value for streets in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, which is higher than the current value of Ponmnangipuram 2nd Street.

What are the stamp duty and registration fees for properties in Ponmnangipuram 2nd Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles property registrations for Ponmnangipuram 2nd Street?

The Chennai Central Joint II Sub Registrar Office handles property registrations for Ponmnangipuram 2nd Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.