Guideline Value for Ponni Nagar 2nd Street

Ponni Nagar 2nd Street guideline value

The current guideline value of Ponni Nagar 2nd 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) in the Chengalpattu zone. The land classification for this area is Residential Class II Type - II.

How the guideline value of Ponni Nagar 2nd Street has changed

The guideline value for Ponni Nagar 2nd Street has seen significant changes over the years. In 2002, the value was Rs 201 per sq.ft, which increased to Rs 228 per sq.ft in 2003, marking a 13% rise. The value then saw a further increase to Rs 360 per sq.ft in 2007, reflecting a 58% change. By 2017, the value surged to Rs 1,206 per sq.ft, a remarkable 235% increase from the previous revision. However, there is no figure available for the year 2012 in the register.

In 2023, the guideline value was revised to Rs 1,800 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, representing a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 885%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 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 Ponni Nagar 2nd Street's value below this median.

• Ponni Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the 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 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponni Nagar 2nd Street?

The Sub Registrar Office that covers Ponni Nagar 2nd Street is 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 is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the minimum sale price of a property, ensuring that transactions are recorded at a fair value. This value is used to calculate stamp duty and registration fees, which are mandatory for property transactions.

When a buyer approaches the registration office, the guideline value will be referenced to assess the appropriate fees. If the sale price exceeds the guideline value, the duty will be charged based on the sale price instead.

Frequently asked questions

What is the current guideline value of Ponni Nagar 2nd Street?

The current guideline value of Ponni Nagar 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What is the land classification for Ponni Nagar 2nd Street?

The land classification for Ponni Nagar 2nd Street is Residential Class II Type - II, indicating its suitability for residential purposes.

What are the other streets in Pammal with similar guideline values?

Other streets in Pammal with similar guideline values include Ponni Nagar 1st Street, Ponni Nagar 3rd Street, and Poombhugar Nagar (Kudusai Part), all valued at Rs 1,980 per sq.ft in 2024.

Where is the Sub Registrar Office for Ponni Nagar 2nd Street located?

The Sub Registrar Office covering Ponni Nagar 2nd Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.