Guideline Value for Ponniamman koil 1st Cross Street

Ponniamman koil 1st Cross Street guideline value

The current guideline value for Ponniamman koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Ponniamman koil 1st Cross Street has changed

The guideline value for Ponniamman koil 1st Cross Street has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 2,000 per sq.ft, and in 2024, it increased to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Prior to the 2023 revision, there were no recorded figures for the street in the register. The 2024 revision marks a significant update, aligning with the current trends in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Ponniamman koil 1st Cross Street's 2024 figure is below this median.

• Ponniamman koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Koil Cross Street West: Rs 2,200 per sq.ft (2024)
• Ponniamman Koil East Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Koil Street: Rs 2,200 per sq.ft (2024)
• Ponni Amman Koil Street, Nethaji Nagar: Rs 2,200 per sq.ft (2024)
• Ponni Amman Koil Street, Nethaji Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman koil 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that 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 koil 1st Cross Street?

The Sub Registrar Office that covers Ponniamman koil 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Ensuring that all transactions are in line with the guideline value helps maintain transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Ponniamman koil 1st Cross Street?

The current guideline value of Ponniamman koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ponniamman koil 1st Cross Street was Rs 2,000 per sq.ft in 2023 and increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of Ponniamman koil 1st Cross Street?

Ponniamman koil 1st Cross Street is classified as Residential Class II Type - I. This classification is important for understanding the intended use of the land.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000, which includes both stamp duty and registration fees.

Where can I find the Sub Registrar Office for Ponniamman koil 1st Cross Street?

The Sub Registrar Office for Ponniamman koil 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.