Guideline Value for Ponni Nagar

Ponni Nagar guideline value

The current guideline value of Ponni Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Manancheri village and falls under the Kunrathur SRO. The land classification for Ponni Nagar is Residential Class I Type - I.

How the guideline value of Ponni Nagar has changed

The guideline value for Ponni Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision. The most recent revision in 2024 has brought the value up to Rs 990 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is a modest increase of 10%. The increase from 2017 to 2023 was notable at 49%, while the decrease from 2012 to 2017 was 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft, with the median being Rs 990 per sq.ft. Ponni Nagar's guideline value matches this median.

• Pooja Avenue: Rs 1,320 per sq.ft (2024)
• Pilliyar koil Street: Rs 1,100 per sq.ft (2024)
• Pilliyar koil Sandhu: Rs 990 per sq.ft (2024)
• Perumal koil Street: Rs 1,100 per sq.ft (2024)
• RajaGanapathi Nagar: Rs 990 per sq.ft (2024)
• Parvathy Enclave: Rs 2,500 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, leading to a total cost of Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Ponni Nagar?

The Sub Registrar Office that covers Ponni Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Manancheri. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ponni Nagar?

The current guideline value of Ponni Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Ponni Nagar?

Ponni Nagar is classified as Residential Class I Type - I, indicating its suitability for residential developments.

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

The Kunrathur Sub Registrar Office covers Ponni Nagar and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty and registration fees in Ponni Nagar are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 9,90,000.