Guideline Value for Ponnambalam Nagar

Ponnambalam Nagar guideline value

The current guideline value of Ponnambalam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Sekkadu village under the Avadi SRO, classified as Residential Class II Type - I.

How the guideline value of Ponnambalam Nagar has changed

The guideline value for Ponnambalam Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change is a 10% increase. The 2017 to 2023 revision saw a 49% increase, while the 2012 to 2017 revision experienced a decrease of 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Sekkadu

Sekkadu village has a total of 56 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Ponnambalam Nagar.

• Palvadi Street: Rs 1,075 per sq.ft (2024)
• Palla Theru: Rs 1,075 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Reddiyar Street: Rs 1,075 per sq.ft (2024)
• R.R.Nagar bharathiyar street: Rs 1,320 per sq.ft (2024)
• Sanjeevi Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnambalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnambalam Nagar?

Ponnambalam Nagar falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your specific SRO, you can visit this find your SRO link.

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

The guideline value is a crucial factor during property registration in Sekkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ponnambalam Nagar?

The current guideline value of Ponnambalam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Ponnambalam Nagar?

Ponnambalam Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Ponnambalam Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 13,20,000, the total fees would amount to Rs 1,18,800.

Where is the Sub Registrar Office for Ponnambalam Nagar located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.