Guideline Value for Ponniamman Kovil Street

Ponniamman Kovil Street guideline value

The current guideline value of Ponniamman Kovil Street is Rs 155 per sq.ft, effective from 1 July 2024. This street is located in Thirumanikuppam village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Ponniamman Kovil Street has changed

The guideline value for Ponniamman Kovil Street has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which was then reduced to Rs 100 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 150 per sq.ft, a rise of 50%. The most recent revision in 2024 has further increased the guideline value to Rs 155 per sq.ft, reflecting a 3% increase from the previous year.

It is important to note that the register has no figure for Ponniamman Kovil Street in the years 2002, 2003, and 2007.

Guideline values in Thirumanikuppam

In Thirumanikuppam, there are 15 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 130 to Rs 200 per sq.ft. The median value for these streets is Rs 181 per sq.ft, placing Ponniamman Kovil Street's 2024 figure below that median.

• Perumal Kovil Street: Rs 181 per sq.ft (2024)
• Raja Maharaja Nagar: Rs 200 per sq.ft (2024)
• Mariamman Kovil Street: Rs 130 per sq.ft (2024)
• Sri Annai Parasakthi Avenue: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Sri Jayalakshmi nagar: Rs 200 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 155 per sq.ft, the total guideline value amounts to Rs 1,55,000. The stamp duty at 7% would be Rs 10,850, while the registration fee at 2% would be Rs 3,100, bringing the total to Rs 13,950. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman Kovil Street?

Ponniamman Kovil Street falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Thirumanikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Ponniamman Kovil Street?

The current guideline value of Ponniamman Kovil Street is Rs 155 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then back to Rs 150 per sq.ft in 2023, and finally to Rs 155 per sq.ft in 2024.

What is the median guideline value in Thirumanikuppam?

The median guideline value for the streets in Thirumanikuppam is Rs 181 per sq.ft, while Ponniamman Kovil Street's value is below this median.

Where can I find the Sunguvarchattram Sub Registrar Office?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 1,55,000, the stamp duty at 7% would be Rs 10,850.