Guideline Value for Ponniamman Nagar Ph.I

Ponniamman Nagar Ph.I guideline value

The current guideline value of Ponniamman Nagar Ph.I is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Ponniamman Nagar Ph.I has changed

The guideline value for Ponniamman Nagar Ph.I has undergone several revisions over the years. The most recent revision in 2024 maintains the value at Rs 200 per sq.ft, which is the same as the 2023 revision. The 2017 revision recorded a value of Rs 134 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 200 per sq.ft, showing a decrease of 33% when compared to the 2017 figure.

There are no recorded figures for the years 2002, 2003, and 2007 for Ponniamman Nagar Ph.I. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Ponniamman Nagar Ph.I is below this median.

• Pillaiyar koil street: Rs 400 per sq.ft (2024)
• Raisa Nagar: Rs 250 per sq.ft (2024)
• Raisa Nagar Annex: Rs 150 per sq.ft (2024)
• Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Real Value Nagar: Rs 350 per sq.ft (2024)
• Real Value Nagar Phase III: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman Nagar Ph.I

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total fees Rs 18,000. 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 Nagar Ph.I?

The Ponniamman Nagar Ph.I area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Somangalam. It serves as a benchmark for the value of the property, ensuring that the appropriate fees are calculated based on the established rates.

When a property is sold, the buyer and seller need to consider the guideline value to ensure compliance with legal requirements during registration. This value helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ponniamman Nagar Ph.I?

The current guideline value of Ponniamman Nagar Ph.I is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent one in 2024 maintaining the value at Rs 200 per sq.ft. The value increased by 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the guideline values for other streets in Somangalam?

Other streets in Somangalam have varying guideline values, with rates ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft.

How is stamp duty calculated for properties in Ponniamman Nagar Ph.I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 18,000, including stamp duty and registration fees.

Where can I find the Sub Registrar Office for Ponniamman Nagar Ph.I?

The Sub Registrar Office covering Ponniamman Nagar Ph.I is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the provided link.