Guideline Value for Ponni Nagar

Ponni Nagar guideline value

The current guideline value of Ponni Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This village falls under the Kunrathur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Ponni Nagar has changed

The guideline value for Ponni Nagar has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 938 per sq.ft. This increased to Rs 1,400 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mangadu -A

Ponni Nagar's guideline value of Rs 1,540 per sq.ft is below the median guideline value of Rs 1,870 per sq.ft for the 208 streets in Mangadu -A under the Kunrathur SRO, which range from Rs 1,320 to Rs 3,300 per sq.ft.

• Poonamallee - Kundrathur Road: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,540 per sq.ft (2024)
• Priam Avenue Extension: Rs 1,870 per sq.ft (2024)
• Priyam Avenue: Rs 1,870 per sq.ft (2024)
• Perumal Koil Street: Rs 2,500 per sq.ft (2024)
• Periyar Nagar: Rs 1,540 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 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, resulting in a total of Rs 1,38,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ponni Nagar?

The Ponni Nagar area 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 details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ponni Nagar?

The current guideline value of Ponni Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 938 per sq.ft to Rs 1,540 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration office for Ponni Nagar?

The registration office for Ponni Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Ponni Nagar?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, for a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 at 7%.

Are there other streets with different guideline values in Mangadu -A?

Yes, there are several other streets in Mangadu -A with varying guideline values. For instance, Poonamallee - Kundrathur Road has a guideline value of Rs 2,200 per sq.ft in 2024.