Guideline Value for Ponniamman Kovil Street

Ponniamman Kovil Street guideline value

The current guideline value of Ponniamman Kovil Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village under the Sunguvarchattram SRO, classified as Residential Special Type - III.

How the guideline value of Ponniamman Kovil Street has changed

Over the years, the guideline value for Ponniamman Kovil Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision recorded a lower value of Rs 402 per sq.ft, reflecting a decrease of 33% from the 2012 figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft in 2023. The current guideline value of Rs 600 per sq.ft from the 2024 revision shows no change from the previous year, indicating stability in the valuation over the last two years.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which aligns with the guideline value of Ponniamman Kovil Street.

• Pon Nagar: Rs 500 per sq.ft (2024)
• Ponmani Nagar Phase-II: Rs 800 per sq.ft (2024)
• Ponmani Nagar: Rs 600 per sq.ft (2024)
• Perumal Kovil Street: Rs 300 per sq.ft (2024)
• Punitha Anthoniar Street: Rs 600 per sq.ft (2024)
• Punitha Chinnappar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Kovil Street?

The Sub Registrar Office that covers Ponniamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Molachoor. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is considered to determine the applicable fees. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ponniamman Kovil Street?

The current guideline value of Ponniamman Kovil Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2012 revision, with a decrease to Rs 402 per sq.ft in 2017 before returning to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Ponniamman Kovil Street?

Ponniamman Kovil Street is classified as Residential Special Type - III under the Sunguvarchattram SRO.

Where can I find the registration office for Ponniamman Kovil Street?

The registration office for Ponniamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Molachoor?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.