Guideline Value for Ponnappan Street

Ponnappan Street guideline value

The current guideline value of Ponnappan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village under the Tiruvallur Joint 1 SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Ponnappan Street has changed

The guideline value for Ponnappan Street has undergone several revisions over the years. The earliest recorded value is from 2007, set at Rs 320 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 369% increase. However, from 2012 to 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, a 49% increase, before reaching the current figure of Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Ponnappan Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 416%.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Ponnappan Street's 2024 figure above this median.

• Poondi road: Rs 880 per sq.ft (2024)
• Perupakkam Colony: Rs 2,750 per sq.ft (2024)
• Perumal Street: Rs 2,200 per sq.ft (2024)
• Pukalenthi Street: Rs 1,650 per sq.ft (2024)
• Periyathambi Street: Rs 1,100 per sq.ft (2024)
• Pumphouse Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is essential 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 Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvallur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency in property transactions and helps maintain a fair valuation process.

Frequently asked questions

What is the current guideline value of Ponnappan Street?

The current guideline value of Ponnappan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 320 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 416%.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ponnappan Street located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the median guideline value in Thiruvallur?

The median guideline value for the streets in Thiruvallur village is Rs 1,100 per sq.ft, with Ponnappan Street's value above this median.