Guideline Value for Ponnambalam Salai

Ponnambalam Salai guideline value

The current guideline value of Ponnambalam Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Mixed Type - I land.

How the guideline value of Ponnambalam Salai has changed

The guideline value for Ponnambalam Salai has seen several revisions over the years. In 2007, the value was set at Rs 1,210 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, this figure dropped to Rs 5,360 per sq.ft in 2017. The 2023 revision marked a rise to Rs 8,000 per sq.ft, and the most recent 2024 revision saw it increase further to Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 627%. The changes between the revisions include a 561% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, positioning Ponnambalam Salai's 2024 figure above this median.

• Ponnammal Nagar: Rs 4,100 per sq.ft (2024)
• Ponmanasemmal Street S.No.394/2: Rs 2,700 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 Ponnambalam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnambalam Salai?

The Sub Registrar Office that covers Ponnambalam Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To locate your SRO, you can find your SRO.

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

When buying or selling property in Kodambakkam, the guideline value is a crucial factor in determining the applicable stamp duty and registration fees. The guideline value is set by the government and is used as a reference point to assess the value of the property for registration purposes.

It is important to note that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Ponnambalam Salai?

The current guideline value of Ponnambalam Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,210 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 627% over the years.

What are the stamp duty and registration fees for property in Ponnambalam Salai?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office is responsible for Ponnambalam Salai?

The Ashok Nagar Sub Registrar Office is responsible for Ponnambalam Salai, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions in Kodambakkam?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a reference for assessing the property's value for registration, ensuring that the correct fees are applied based on the higher of the guideline value or the sale price.