Guideline Value for Ponnappa Chetty Lane

Ponnappa Chetty Lane guideline value

The current guideline value of Ponnappa Chetty Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and it is classified as Residential Special Type - II.

How the guideline value of Ponnappa Chetty Lane has changed

The guideline value for Ponnappa Chetty Lane has undergone several revisions over the years. The earliest figure recorded is Rs 988 per sq.ft in 2003. Following that, the value increased to Rs 1,700 per sq.ft in 2007, marking a significant rise of 72%. In 2012, the value saw a jump to Rs 5,000 per sq.ft, which was an increase of 194%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, and finally, it reached Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 457%. It is important to note that there are no figures available for the year 2002 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making Ponnappa Chetty Lane's 2024 figure of Rs 5,500 per sq.ft notably above the median.

• Ponnappa Chetty Street: Rs 5,500 per sq.ft (2024)
• Ponniamman Koil Street: Rs 3,800 per sq.ft (2024)
• Pommuliyer Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Portugeese Church 1st Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 2nd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappa Chetty Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Ponnappa Chetty Lane?

The Sub Registrar Office that covers Ponnappa Chetty Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps in assessing the market dynamics of the area, providing both buyers and sellers with a reference point during negotiations. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ponnappa Chetty Lane?

The current guideline value of Ponnappa Chetty Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 988 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 457% over the years.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions.

Where can I find the Sub Registrar Office for Ponnappa Chetty Lane?

The Sub Registrar Office for Ponnappa Chetty Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01.

What are the other streets in Muthiyalpet with their guideline values?

Other streets in Muthiyalpet include Ponnappa Chetty Street at Rs 5,500 per sq.ft, Ponniamman Koil Street at Rs 3,800 per sq.ft, and Pommuliyer Street at Rs 4,400 per sq.ft, among others.