Guideline Value for Ponnangi puram 1st Street

Ponnangi puram 1st Street guideline value

The current guideline value of Ponnangi puram 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ponnangi puram 1st Street has changed

The guideline value for Ponnangi puram 1st Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, this value decreased to Rs 4,690 per sq.ft in 2017. Following this, the guideline value rose sharply to Rs 7,000 per sq.ft in 2023, and then to the current value of Rs 7,700 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 285%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ponnangi puram 1st Street's current value below that median.

• Ponmnangipuram 2nd Street: Rs 7,700 per sq.ft (2024)
• Post Office Road: Rs 7,700 per sq.ft (2024)
• Prakadambal Road: Rs 8,800 per sq.ft (2024)
• Perumal Mudali Street (Extention): Rs 7,700 per sq.ft (2024)
• Perumal Mudali Lane: Rs 7,700 per sq.ft (2024)
• Pushpa Nagar 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnangi puram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total cost for these fees to Rs 6,93,000. 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 Ponnangi puram 1st Street?

The Sub Registrar Office that covers Ponnangi puram 1st Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO online for more details.

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

The guideline value is a crucial factor when buying or selling property in Nungambakkam, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When registering a property, the guideline value serves as a benchmark for the transaction. It is essential to note that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponnangi puram 1st Street?

The current guideline value of Ponnangi puram 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 285% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office serves Ponnangi puram 1st Street?

The Chennai Central Joint II Sub Registrar Office serves Ponnangi puram 1st Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, with Ponnangi puram 1st Street's current value being below this median.