Guideline Value for Ponnankinaru Street ( Bajanai Koil Street To Madras Battai Road)

Ponnankinaru Street ( Bajanai Koil Street to Madras Battai Road) guideline value

The current guideline value of Ponnankinaru Street ( Bajanai Koil Street to Madras Battai Road) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Malligaicherry village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ponnankinaru Street ( Bajanai Koil Street to Madras Battai Road) has changed

The guideline value for Ponnankinaru Street has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 2,250 per sq.ft. This was followed by a decrease to Rs 1,507 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,250 per sq.ft, and the most recent 2024 revision set the guideline value at Rs 2,400 per sq.ft. The changes between these revisions include a 49% increase from 2017 to 2023, a 7% increase from 2023 to 2024, and a 33% decrease from 2012 to 2017.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which means that the 2024 figure for Ponnankinaru Street is equal to this median.

• Ponnankinaru Street (M.T.H to Bajanai Koil Street): Rs 2,750 per sq.ft (2024)
• Perumal Koil South Mada Street: Rs 2,400 per sq.ft (2024)
• Rajivgandhi Nagar & Streets: Rs 2,400 per sq.ft (2024)
• Narayana Mesthri Third Street: Rs 2,400 per sq.ft (2024)
• Narayana Mesthri Second Street: Rs 2,400 per sq.ft (2024)
• Narayana Mesthri First Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnankinaru Street ( Bajanai Koil Street to Madras Battai Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost for these fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnankinaru Street ( Bajanai Koil Street to Madras Battai Road)?

The Sub Registrar Office that covers Ponnankinaru Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Malligaicherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponnankinaru Street?

The current guideline value of Ponnankinaru Street ( Bajanai Koil Street to Madras Battai Road) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,250 per sq.ft in 2012 to Rs 1,507 per sq.ft in 2017, then back to Rs 2,250 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the stamp duty for property in Ponnankinaru Street?

The stamp duty for property in Ponnankinaru Street is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,68,000 based on the current guideline value.

Where is the Sub Registrar Office for Ponnankinaru Street located?

The Sub Registrar Office covering Ponnankinaru Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value determined for properties in Malligaicherry?

The guideline value for properties in Malligaicherry is determined based on various factors, including land classification and comparisons with other streets in the area. The current median guideline value is Rs 2,400 per sq.ft.