Guideline Value for Ponnammal Nagar 2nd Cross Street

Ponnammal Nagar 2nd Cross Street guideline value

The current guideline value of Ponnammal Nagar 2nd Cross 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 2nd Cross Street has changed

The guideline value for Ponnammal Nagar 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the Rs 1,675 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Nesapakkam

Nesapakkam 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 as of 2024. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Ponnammal Nagar 2nd Cross Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnammal Nagar 2nd Cross Street?

The Ponnammal Nagar 2nd Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties agree on a fair price for registration purposes. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Ponnammal Nagar 2nd Cross Street?

The current guideline value of Ponnammal Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the other streets in Nesapakkam with similar guideline values?

Other streets in Nesapakkam, such as Ponnammal Nagar 1st Cross Street, Ponnammal Nagar Main Road, and several others, also have a guideline value of Rs 2,750 per sq.ft as of 2024.

What is the stamp duty rate for properties in Ponnammal Nagar 2nd Cross Street?

The stamp duty rate for properties in Ponnammal Nagar 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Ponnammal Nagar 2nd Cross Street?

The registration for Ponnammal Nagar 2nd Cross Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.