Guideline Value for Ponniamman Koil Cross Street West

Ponniamman Koil Cross Street West guideline value

The current guideline value for Ponniamman Koil Cross Street West is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ponniamman Koil Cross Street West has changed

The guideline value for Ponniamman Koil Cross Street West has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 2,000 per sq.ft, and with the latest revision in 2024, it increased by 10% to Rs 2,200 per sq.ft.

Prior to the 2023 revision, the register does not contain any figures for the mentioned years. The significant change from 2023 to 2024 reflects a rise in the guideline value, indicating adjustments in property valuation in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Ponniamman Koil Cross Street West's 2024 figure below that median.

• Ponniamman Koil East Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Koil Street: Rs 2,200 per sq.ft (2024)
• Ponni Amman Koil Street, Nethaji Nagar: Rs 2,200 per sq.ft (2024)
• Ponni Amman Koil Street, Nethaji Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil Cross Street West

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. Please 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 further calculations.

Which Sub Registrar Office covers Ponniamman Koil Cross Street West?

The Ponniamman Koil Cross Street West falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

When buying or selling property in Madipakkam-1, the guideline value plays a crucial role in determining the registration charges. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

The guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the property registration process. It is important to note that these fees are based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value for Ponniamman Koil Cross Street West?

The current guideline value for Ponniamman Koil Cross Street West is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. The guideline value for Ponniamman Koil Cross Street West is below this median.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office covers Ponniamman Koil Cross Street West, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.