Guideline Value for Ponniamman Koil Street

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village under the Redhills SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Ponniamman Koil Street has changed

Over the years, the guideline value of Ponniamman Koil Street has seen several revisions. The earliest recorded figure is from 2007, when the value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a 100% increase. However, the value then decreased to Rs 268 per sq.ft in 2017, a decline of 33%. The value remained at Rs 400 per sq.ft in both 2023 and the latest revision in 2024, indicating no change between these two years. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 400 per sq.ft. Overall, from the 2007 revision to the current 2024 figure, there has been a total increase of 100%, stabilizing at Rs 400 per sq.ft since 2012.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO, with guideline values ranging from Rs 300 to Rs 1,600 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, making Ponniamman Koil Street's 2024 value below that median.

• Ponneri Salai: Rs 400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 400 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• R.K Avenue: Rs 300 per sq.ft (2024)
• Neudvarambakkam Salai: Rs 1,000 per sq.ft (2024)
• Nehru Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Koil Street?

The Sub Registrar Office that covers Ponniamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panchetty. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value according to government standards. This helps maintain transparency in property transactions and ensures that the correct fees are paid to the government.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 400 per sq.ft in both 2023 and 2024. It was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What are the other streets in Panchetty with their guideline values?

Other streets in Panchetty include Ponneri Salai and Pillaiyar Koil Street, both at Rs 400 per sq.ft, and Perumal Koil Street, Neudvarambakkam Salai, and Nehru Street, each at Rs 1,000 per sq.ft.

What is the registration fee and stamp duty for a property in Ponniamman Koil Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 36,000.

Which office handles the registration for Ponniamman Koil Street?

The Redhills Sub Registrar Office handles the registration for Ponniamman Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.