Guideline Value for Ponniamman koil 2nd Cross Street

Ponniamman koil 2nd Cross Street guideline value

The current guideline value for Ponniamman koil 2nd 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 2nd Cross Street has changed

The guideline value for Ponniamman koil 2nd Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in the 2023 revision, reflecting a change of +10%. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value was not recorded for Ponniamman koil 2nd Cross Street in the earlier years mentioned. The increase from 2023 to 2024 is significant, as it marks the first recorded value for this street since the previous revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Ponniamman koil 2nd Cross Street's 2024 figure below that median.

• Ponniamman koil 1st 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ponniamman koil 2nd Cross Street?

The Sub Registrar Office covering Ponniamman koil 2nd 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 plays a crucial role during property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This helps in maintaining consistency across transactions and provides a clear framework for both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value for Ponniamman koil 2nd Cross Street?

The current guideline value for Ponniamman koil 2nd 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 has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a +10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Ponniamman koil 2nd Cross Street?

Ponniamman koil 2nd Cross Street is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Ponniamman koil 2nd Cross Street is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office covers Ponniamman koil 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.