Guideline Value for Ponnapillai Nagar

Ponnapillai Nagar guideline value

The current guideline value of Ponnapillai Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Ponnapillai Nagar has changed

In the 2017 revision, the guideline value was Rs 737 per sq.ft. This figure increased significantly to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 saw the guideline value rise to Rs 1,200 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Ponnapillai Nagar's 2024 guideline value is above this median.

• Ponnappillai Street: Rs 880 per sq.ft (2024)
• Poniammankoil Street: Rs 805 per sq.ft (2024)
• Pompozhil Nager Yamunai Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Vaigai Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Vadamallai Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Thamarai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnapillai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnapillai Nagar?

The Sub Registrar Office that covers Ponnapillai Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration of property transactions in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is crucial for calculating the stamp duty, which is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Ponnapillai Nagar?

The current guideline value of Ponnapillai Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

What was the guideline value in previous years?

The guideline value for Ponnapillai Nagar was Rs 737 per sq.ft in 2017, Rs 1,100 per sq.ft in 2023, and has increased to Rs 1,200 per sq.ft in 2024.

What is the land classification of Ponnapillai Nagar?

Ponnapillai Nagar is classified as Residential Special Type - I.

How does the guideline value compare to other streets in Kovilpathagai?

The guideline value of Ponnapillai Nagar is above the median value of Rs 870 per sq.ft for the 278 streets in Kovilpathagai under the Ambattur SRO.

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

The Sub Registrar Office for Ponnapillai Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.