Guideline Value for Ponniamman Street

Ponniamman Street guideline value

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

How the guideline value of Ponniamman Street has changed

The guideline value for Ponniamman Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained the same in the subsequent 2017 revision, which saw a significant decrease of 33%, bringing the value down to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a substantial increase of 49%, raising the value to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register does not contain figures for the years 2002, 2003, and 2007 for Ponniamman Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 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 guideline value is Rs 1,650 per sq.ft, which is the same as Ponniamman Street's 2024 figure.

• Ponniamman Nagar Ext-II: Rs 1,650 per sq.ft (2024)
• Ponniamman NagarExt 1: Rs 1,650 per sq.ft (2024)
• Ponniamman Nagar: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ponniamman Street?

Ponniamman Street falls under 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 is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponniamman Street?

The current guideline value of Ponniamman Street 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 1,650 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What is the classification of Ponniamman Street?

Ponniamman Street is classified as Residential Class I Type - III, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Ponniamman Street?

The Sub Registrar Office covering Ponniamman Street is located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are paid during the registration process.