Guideline Value for Ponniamman NagarExt 1

Ponniamman NagarExt 1 guideline value

The current guideline value for Ponniamman NagarExt 1 in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Ponniamman NagarExt 1 has changed

The guideline value for Ponniamman NagarExt 1 has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, but this changed to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then further rose to the current rate of Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value across these streets is Rs 1,650 per sq.ft, placing Ponniamman NagarExt 1 at the median value for 2024.

• Ponniamman Nagar Ext-II: Rs 1,650 per sq.ft (2024)
• Ponniamman Nagar: Rs 1,650 per sq.ft (2024)
• Ponniamman Street: Rs 1,650 per sq.ft (2024)
• Poombuhar Street: Rs 2,750 per sq.ft (2024)
• Pishmar Street: Rs 1,650 per sq.ft (2024)
• Pirathip Avenue(Kalyanasundharam street): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman NagarExt 1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. Please 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 detailed calculations.

Which Sub Registrar Office covers Ponniamman NagarExt 1?

The Ponniamman NagarExt 1 property is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property. The fees are calculated based on the guideline value or the actual sale price, whichever is higher.

When registering a property, buyers must ensure that they are aware of the current guideline value to avoid any discrepancies in the fees. This ensures a smooth transaction process and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ponniamman NagarExt 1?

The current guideline value of Ponniamman NagarExt 1 is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Ponniamman NagarExt 1?

Ponniamman NagarExt 1 is classified as Residential Class I Type - III under the current guidelines.

What are the stamp duty rates applicable?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for Ponniamman NagarExt 1?

The Sub Registrar Office covering Ponniamman NagarExt 1 is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information through the provided link.