Guideline Value for Ponnappa Street

Ponnappa Street guideline value

The current guideline value of Ponnappa Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ponnappa Street has changed

The guideline value for Ponnappa Street has seen significant changes over the years. In 2002, the value was Rs 621 per sq.ft, which increased to Rs 685 per sq.ft in 2003, marking a 10% rise. The value then experienced a substantial increase to Rs 1,500 per sq.ft in 2007, reflecting a growth of 119%. Following this, the value surged to Rs 10,000 per sq.ft in 2012, which was a remarkable 567% increase. However, from 2012 to 2017, the value decreased to Rs 6,700 per sq.ft, a drop of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1671%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Ponnappa Street's 2024 figure above this median.

• Ponnappan lane: Rs 11,000 per sq.ft (2024)
• Ponniamman street: Rs 18,100 per sq.ft (2024)
• Police Commissioner Office Salai: Rs 18,100 per sq.ft (2024)
• Poonamallee High road lane E.V.R. Lane: Rs 13,500 per sq.ft (2024)
• Poonamallee High road (or) E.V.R. Salai: Rs 18,100 per sq.ft (2024)
• Pillaiyar Koil street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappa Street

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ponnappa Street?

The Sub Registrar Office that covers Ponnappa Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property. It helps determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. Buyers and sellers must consider this value to understand the financial implications of their transactions, as it directly influences the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Ponnappa Street?

The current guideline value of Ponnappa Street is Rs 11,000 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 621 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, showing an overall increase of 1671% over this period.

What is the classification of Ponnappa Street?

Ponnappa Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

Other streets in Egmore include Ponnappan lane at Rs 11,000 per sq.ft, Ponniamman street at Rs 18,100 per sq.ft, and Pillaiyar Koil street at Rs 6,300 per sq.ft, among others.

Where is the Sub Registrar Office for Ponnappa Street located?

The Sub Registrar Office for Ponnappa Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.