Guideline Value for Ponniamman Koil 2nd Street

Ponniamman Koil 2nd Street guideline value

The current guideline value of Ponniamman Koil 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Ponniamman Koil 2nd Street has changed

The guideline value for Ponniamman Koil 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,675 per sq.ft. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value across these streets is Rs 2,150 per sq.ft, placing Ponniamman Koil 2nd Street above that median.

• Ponniamman Koil 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Ponniamman Koil 1st Street: Rs 2,700 per sq.ft (2024)
• Ponniamman Koil 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Ponniamman Koil Street: Rs 2,700 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,300 per sq.ft (2024)
• P.T.C. Colony 1st Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Ponniamman Koil 2nd Street?

The Sub Registrar Office that covers Ponniamman Koil 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and legally. Buyers should be aware that the stamp duty is charged based on the higher amount between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Ponniamman Koil 2nd Street?

The current guideline value of Ponniamman Koil 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

Which Sub Registrar Office is responsible for Ponniamman Koil 2nd Street?

The Selaiyur Sub Registrar Office is responsible for Ponniamman Koil 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty rates for property in this area?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for ensuring that the transaction is legally recorded and that the correct fees are paid.