Guideline Value for Ponni Nagar

Ponni Nagar guideline value

The current guideline value of Ponni Nagar, located in Madanandapuram village, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area falls under the jurisdiction of the Kunrathur Sub Registrar Office and is classified as Residential Special Type - II.

How the guideline value of Ponni Nagar has changed

The guideline value for Ponni Nagar has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012. However, in 2017, the value decreased to Rs 2,144 per sq.ft. Following this, the value rose to Rs 3,200 per sq.ft in 2023, and then to the current figure of Rs 3,520 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, while the transition from 2012 to 2017 saw a decrease of 33%. The jump from 2007 to 2012 was substantial at 300%. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value is Rs 3,520 per sq.ft, which aligns with the current guideline value of Ponni Nagar.

• Ponni Amman Koil Street: Rs 3,190 per sq.ft (2024)
• RadhaKrishnan Avenue: Rs 3,190 per sq.ft (2024)
• Parvathy Avenue: Rs 3,520 per sq.ft (2024)
• Rajeswari Avenue: Rs 3,960 per sq.ft (2024)
• Ramachandra Nagar: Rs 3,960 per sq.ft (2024)
• Ramakrishna Nagar: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Ponni Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponni Nagar?

Ponni Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Madanandapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller need to be aware of the guideline value as it affects the overall transaction costs. The guideline value serves as a benchmark for assessing the value of the property and calculating the associated fees.

Frequently asked questions

What is the current guideline value of Ponni Nagar?

The current guideline value of Ponni Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 800 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 340% since 2007.

What is the land classification for Ponni Nagar?

Ponni Nagar is classified as Residential Special Type - II, which is relevant for determining the guideline value and applicable regulations.

What are the stamp duty and registration fees for property in Ponni Nagar?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles registrations for Ponni Nagar?

The Kunrathur Sub Registrar Office handles registrations for Ponni Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.