Guideline Value for Ponnappan Street

Ponnappan Street guideline value

The current guideline value of Ponnappan Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ponnappan Street has changed

Since the establishment of the guideline values, Ponnappan Street has seen several revisions. The earliest recorded value is from 2002, set at Rs 166 per sq.ft. This increased significantly to Rs 186 per sq.ft in 2003, marking a 12% rise. The value continued to grow, reaching Rs 1,000 per sq.ft in 2007, which was a substantial increase of 438%. In 2012, the value was revised to Rs 2,500 per sq.ft, reflecting a 150% increase from the previous figure. However, this was followed by a decrease of 33% to Rs 1,675 per sq.ft in 2017.

The most recent revisions show a rise to Rs 2,500 per sq.ft in 2023, and then to Rs 2,800 per sq.ft in 2024, which is a 12% increase. Overall, from 2002 to 2024, the guideline value has increased by 1587%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current value of Ponnappan Street.

• Ponnusamy Street: Rs 2,800 per sq.ft (2024)
• Porcheliyan Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Perumal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Perumal Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnappan Street?

Ponnappan Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is an essential factor during property registration in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Ponnappan Street?

The current guideline value of Ponnappan Street is Rs 2,800 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 166 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1587% over this period.

What is the land classification for Ponnappan Street?

Ponnappan Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.

What are the stamp duty and registration fees for properties in Ponnappan Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Ponnappan Street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, handles registrations for Ponnappan Street.