Guideline Value for Ponniamman Koil Street

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class II Type - I.

How the guideline value of Ponniamman Koil Street has changed

The guideline value for Ponniamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 1,000 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a 33% decline. The subsequent revision in 2023 raised the value to Rs 3,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,800 per sq.ft, a 9% increase from the previous year.

Notably, the register does not have figures for Ponniamman Koil Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 280%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO, with guideline values for 2024 ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Ponniamman Koil Street's 2024 value below this median.

• Ponnappa Chetty Street: Rs 5,500 per sq.ft (2024)
• Ponnappa Chetty Lane: Rs 5,500 per sq.ft (2024)
• Pommuliyer Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Portugeese Church 1st Lane: Rs 4,400 per sq.ft (2024)
• Portugeese Church 2nd Lane: Rs 4,400 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 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total fees together Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that they are based on a standardized value rather than the sale price alone. This helps maintain transparency and uniformity in property transactions.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 280% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Ponniamman Koil Street's current value being below this median.

What are the stamp duty and registration fees for Ponniamman Koil Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000, with stamp duty at Rs 2,66,000 and registration fees at Rs 76,000, totaling Rs 3,42,000.

Where is the Sub Registrar Office for Ponniamman Koil Street located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.