Guideline Value for Ponnappan lane

Ponnappan lane guideline value

The current guideline value of Ponnappan lane 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 Ponnappan lane has changed

The guideline value of Ponnappan lane has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 10,000 per sq.ft in 2012. However, it then decreased to Rs 6,700 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 10,000 per sq.ft, and the most recent 2024 revision set the value at Rs 11,000 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for Ponnappan lane. Overall, from 2007 to 2024, the guideline value has increased by 817%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Ponnappan lane's 2024 figure above that median.

• Ponnappa Street: 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 Ponnappan lane

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total 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, bringing the total fees to Rs 9,90,000. 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 lane?

The Sub Registrar Office that covers Ponnappan lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponnappan lane?

The current guideline value of Ponnappan lane 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 from Rs 1,200 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, with various revisions in between. The most significant increase occurred from 2007 to 2012, where it rose by 733%.

What is the median guideline value in Egmore?

The median guideline value for streets in Egmore under the Periamet SRO is Rs 7,100 per sq.ft. Ponnappan lane's current value is above this median.

What fees are associated with property transactions in Ponnappan lane?

When purchasing property in Ponnappan lane, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ponnappan lane?

The Sub Registrar Office for Ponnappan lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find more information about your SRO online.