Guideline Value for Ponnappa Lane

Ponnappa Lane guideline value

The current guideline value of Ponnappa Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ponnappa Lane has changed

Over the years, the guideline value of Ponnappa Lane has seen significant changes. In the 2007 revision, the value was Rs 1,145 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in 2012, marking a rise of 424%. However, the value then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 6,000 per sq.ft, and the latest 2024 revision increased it to Rs 6,600 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to the 2012 level. Overall, from 2007 to 2024, the guideline value has increased by 476%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value among these streets is Rs 6,600 per sq.ft, which is equal to the 2024 figure for Ponnappa Lane.

• Ponnappa Street: Rs 6,600 per sq.ft (2024)
• Police Colony Road: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 8,800 per sq.ft (2024)
• Pillaiyar Koil 2nd lane: Rs 6,600 per sq.ft (2024)
• Pillaiyar Koil 1st lane: Rs 6,600 per sq.ft (2024)
• Peyalwar Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappa Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 further assistance.

Which Sub Registrar Office covers Ponnappa Lane?

The Sub Registrar Office that covers Ponnappa Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Ponnappa Lane?

The current guideline value of Ponnappa Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 476%.

What are the stamp duty and registration fees for property in Ponnappa Lane?

For a 1,000 sq.ft plot valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations in Triplicane?

The Triplicane Sub Registrar Office handles property registrations in Triplicane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Ponnappa Lane?

Ponnappa Lane is classified as Residential Class I Type - I, indicating its suitability for residential developments.