Guideline Value for Ponnan Nagar

Ponnan Nagar guideline value

The current guideline value of Ponnan Nagar, located in Irumpuliyur village under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Ponnan Nagar has changed

The guideline value for Ponnan Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it experienced a decrease of 33% to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Ponnan Nagar's 2024 figure of Rs 3,300 per sq.ft above this median.

• Ponnan Street: Rs 1,650 per sq.ft (2024)
• Ponds Colony: Rs 2,200 per sq.ft (2024)
• Pilliyar Koil Street: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Periyar Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Periyar Nagar (Cross Street): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Ponnan Nagar?

Ponnan Nagar falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid paying more than the necessary stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Ponnan Nagar?

The current guideline value of Ponnan Nagar is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 560% over the years.

What is the land classification for Ponnan Nagar?

Ponnan Nagar is classified as Residential Special Type - III, which is relevant for determining its guideline value and property usage.

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

The Sub Registrar Office covering Ponnan Nagar is the Tambaram Joint 1 SRO, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Ponnan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.