Guideline Value for Ponnammal Nagar - Moogambigai Street

Ponnammal Nagar - Moogambigai Street guideline value

The current guideline value of Ponnammal Nagar - Moogambigai Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Ponnammal Nagar - Moogambigai Street has changed

The guideline value for Ponnammal Nagar - Moogambigai Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and further rose to Rs 2,750 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The change from 2017 to 2023 was an increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The most recent change from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Ponnammal Nagar - Moogambigai Street's 2024 figure below this median.

• Ponnammal Nagar - Moogambigai 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar - Moogambigai 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil Street Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnammal Nagar - Moogambigai Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ponnammal Nagar - Moogambigai Street?

The Sub Registrar Office that covers Ponnammal Nagar - Moogambigai Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Nesapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When buying or selling property, it is essential to consider the guideline value, as it may affect the overall costs involved in the transaction. Buyers should ensure that the sale price is aligned with or exceeds the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Ponnammal Nagar - Moogambigai Street?

The current guideline value for Ponnammal Nagar - Moogambigai Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Ponnammal Nagar - Moogambigai Street is Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office, which covers Ponnammal Nagar - Moogambigai Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.