Guideline Value for Ponniamman Koil East Cross Street

Ponniamman Koil East Cross Street guideline value

The current guideline value of Ponniamman Koil East Cross Street 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 the land classification is Residential Class II Type - I.

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

The guideline value for Ponniamman Koil East Cross Street has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This increase from Rs 2,000 to Rs 2,200 per sq.ft reflects a change in valuation over the past year. The current 2024 figure is the latest available and shows a clear upward movement from the previous year's value.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Ponniamman Koil East Cross Street is below this median.

• Ponniamman Koil Cross Street West: 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 East Cross Street

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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Koil East Cross Street?

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

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 is a crucial factor that determines the stamp duty and registration fees payable at the time of registration. This value serves as a benchmark for assessing the property price, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value is regularly updated, reflecting changes in property valuations over time.

Frequently asked questions

What is the current guideline value of Ponniamman Koil East Cross Street?

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

How has the guideline value changed over the years?

The guideline value for Ponniamman Koil East Cross Street has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. There are no figures available 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, with Ponniamman Koil East Cross Street's value being below this median.

What are the stamp duty and registration fees for properties 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.

Which office handles the registration in this area?

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