Guideline Value for Ponnan Street

Ponnan Street guideline value

The current guideline value of Ponnan Street in Irumpuliyur village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Ponnan Street has changed

The guideline value for Ponnan Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 230%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ponnan Street's current value below this median.

• Ponnan Nagar: Rs 3,300 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnan Street?

The Sub Registrar Office that covers Ponnan Street is 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

When buying or selling property in Irumpuliyur, the guideline value plays a crucial role in determining the registration fees and stamp duty. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

Buyers and sellers must be aware that the guideline value is updated periodically, and it is essential to check the latest values before proceeding with any transactions. This helps in understanding the financial implications of the property purchase or sale.

Frequently asked questions

What is the current guideline value of Ponnan Street?

The current guideline value of Ponnan Street is Rs 1,650 per sq.ft, 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 1,650 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification for Ponnan Street?

Ponnan Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Ponnan Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Irumpuliyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.