Guideline Value for Ponnammal Nagar

Ponnammal Nagar guideline value

The current guideline value of Ponnammal Nagar is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Ponnammal Nagar has changed

The guideline value for Ponnammal Nagar has seen several revisions over the years. The earliest recorded value was Rs 1,210 per sq.ft in 2007, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 210%. However, this value decreased to Rs 2,512 per sq.ft in 2017, reflecting a decline of 33%. The value then surged to Rs 3,750 per sq.ft in 2023, a 49% increase from the previous revision, and is now set at Rs 4,100 per sq.ft from 1 July 2024, which is a 9% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 value, there has been a significant increase of 239%.

Guideline values in Kodambakkam

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

• Ponnambalam Salai: Rs 8,800 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 Ponnammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, leading to a total of Rs 3,69,000. 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 Ponnammal Nagar?

The Sub Registrar Office that covers Ponnammal Nagar is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your specific SRO, you can visit this link.

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

The guideline value is a critical factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the guideline value can influence the amount of stamp duty and registration fees payable during the transaction.

When a property is registered, the authorities assess the transaction against the guideline value. If the sale price exceeds the guideline value, the stamp duty is calculated based on the higher amount. This ensures that the registration process is aligned with the prevailing market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Ponnammal Nagar?

The current guideline value of Ponnammal Nagar is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking a total increase of 239% over the years.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Ponnambalam Salai at Rs 8,800 per sq.ft, Police Quarters at Rs 7,600 per sq.ft, and Ponmanasemmal Street S.No.394/2 at Rs 2,700 per sq.ft, among others.

How is the stamp duty calculated for properties in Ponnammal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000.

Where can I find the Sub Registrar Office for Ponnammal Nagar?

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