Guideline Value for Ponni Nagar 3rd Street

Ponni Nagar 3rd Street guideline value

The current guideline value of Ponni Nagar 3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ponni Nagar 3rd Street has changed

The guideline value for Ponni Nagar 3rd Street has seen significant changes over the years. In 2002, the guideline value was Rs 201 per sq.ft, which increased to Rs 228 per sq.ft in 2003, marking a rise of 13%. By 2007, the value had risen to Rs 360 per sq.ft, reflecting a 58% increase from the previous revision. However, there are no figures available for the years 2012, 2017, and 2023. As of the 2024 revision, the guideline value stands at Rs 1,980 per sq.ft, representing a substantial increase of 450% from 2007 and an overall increase of 885% from 2002.

This dramatic rise in the guideline value underscores the changes in Pammal over the years. The current value of Rs 1,980 per sq.ft is a significant leap from the earlier figures, particularly when compared to the 2007 value of Rs 360 per sq.ft.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in Pammal is Rs 2,090 per sq.ft, indicating that Ponni Nagar 3rd Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to 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 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 Ponni Nagar 3rd Street?

The Sub Registrar Office that covers Ponni Nagar 3rd Street is 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 during the registration of property transactions in Pammal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the authorities use the guideline value to assess the transaction value. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Ponni Nagar 3rd Street?

The current guideline value of Ponni Nagar 3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How 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, representing an overall increase of 885%.

What is the land classification for Ponni Nagar 3rd Street?

Ponni Nagar 3rd Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Ponni Nagar 3rd Street?

The Sub Registrar Office for Ponni Nagar 3rd Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total fees would amount to Rs 1,78,200.