Guideline Value for Ponniamman Koil Street

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil 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 falls under the Residential Class II Type - I land classification.

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 register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in 2024.

This increase reflects the adjustments made in the guideline values over time. The 2024 revision marks a significant change from the previous year, highlighting a clear upward movement in the guideline value for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging 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 Street's 2024 figure below that median.

• Ponniamman Koil East Cross Street: Rs 2,200 per sq.ft (2024)
• 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)
• 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 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, making 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 further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Koil Street?

Ponniamman Koil 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 information.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is registered, the guideline value is used to calculate the applicable duties. It is essential for both parties to understand that the guideline value may differ from the sale price, and the higher amount will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil 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 Street was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the stamp duty for property in Ponniamman Koil Street?

The stamp duty for a property valued at Rs 22,00,000 in Ponniamman Koil Street would be Rs 1,54,000, calculated at a rate of 7% of the guideline value.

Which Sub Registrar Office covers Ponniamman Koil Street?

Ponniamman Koil Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which means Ponniamman Koil Street's current guideline value is below this median.