Guideline Value for Ponni Nagar 1st Street

Ponni Nagar 1st Street guideline value

The current guideline value of Ponni Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class II Type - II.

How the guideline value of Ponni Nagar 1st Street has changed

The guideline value for Ponni Nagar 1st Street has seen significant changes over the years. In 2002, the guideline value was Rs 201 per sq.ft. This increased to Rs 228 per sq.ft in 2003, marking a 13% rise. The value continued to rise to Rs 360 per sq.ft in 2007, a jump of 58%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a substantial increase of 235%. The next revision in 2023 set the value at Rs 1,800 per sq.ft, a 49% increase from the previous figure. Finally, the current value is Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that there is no figure available for the 2012 revision for Ponni Nagar 1st Street. Overall, since 2002, the guideline value has increased by 885% to reach the current rate.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Ponni Nagar 1st Street below this median.

• Ponni Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• PONNI NAGAR 3rd CROSS STREET: Rs 2,750 per sq.ft (2024)
• Ponni Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Poombhugar Nagar ( Kudusai Part ): Rs 1,980 per sq.ft (2024)
• Poompukar Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Poompukar Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponni Nagar 1st Street?

The Ponni Nagar 1st Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at an appropriate value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Ponni Nagar 1st Street?

The current guideline value of Ponni Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 201 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 885% over the years.

What is the guideline value per sq.ft for other streets in Pammal?

Other streets in Pammal have varying guideline values, with rates ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft.

How are stamp duty and registration fees calculated in Ponni Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 1,78,200.

Where can I find the Sub Registrar Office for Ponni Nagar 1st Street?

The Sub Registrar Office covering Ponni Nagar 1st Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information about your SRO through the provided link.