Guideline Value for Ponniamman Koil Street

Ponniamman Koil Street guideline value

The current guideline value of Ponniamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ponniamman Koil Street has changed

The guideline value for Ponniamman Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 613 per sq.ft. This increased to Rs 670 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 850 per sq.ft in 2007, representing a 27% change. By 2012, the value reached Rs 3,000 per sq.ft, showing a significant increase of 253% from the previous revision. However, it then decreased by 33% to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further increase of 10% to Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 438%. There are no figures available for the revisions in years other than those listed.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft in 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Ponniamman Koil Street's 2024 figure below that median.

• Ponnammal Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil sannathi Street: Rs 4,400 per sq.ft (2024)
• Postal Audit Colony: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil North Street: Rs 4,400 per sq.ft (2024)
• Prem Nagar (Bharathi Street.): Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees together Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponniamman Koil Street?

The Sub Registrar Office that covers Ponniamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ponniamman Koil Street?

The current guideline value of Ponniamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 613 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 438% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Ponniamman Koil Street?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covers Ponniamman Koil Street.

What is the land classification for Ponniamman Koil Street?

Ponniamman Koil Street is classified as Residential Class III Type - I, indicating its designation for residential use within the area.