Guideline Value for Ponnappa Street

Ponnappa Street guideline value

The current guideline value of Ponnappa Street 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 Street has changed

The guideline value of Ponnappa Street has seen several revisions over the years. In 2007, the value was Rs 1,650 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it decreased to Rs 4,020 per sq.ft in 2017 before rising to Rs 6,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The revision from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a substantial 264%. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003.

Guideline values in Triplicane

In Triplicane village, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Ponnappa Street.

• Ponnappa Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, together totaling Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnappa Street?

Ponnappa Street falls under 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 serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is sold, the buyer and seller must consider the guideline value to determine the applicable fees. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ponnappa Street?

The current guideline value of Ponnappa Street 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 from Rs 1,650 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification of Ponnappa Street?

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

Where can I find the Sub Registrar Office for Ponnappa Street?

The Sub Registrar Office covering Ponnappa Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at a rate of 7%.