Guideline Value for Ponniamman nagar

Ponniamman nagar guideline value

The current guideline value of Ponniamman Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Sokandi village under the Sunguvarchattram SRO, with a land classification of Residential Special Type - III.

How the guideline value of Ponniamman nagar has changed

In the 2012 revision, the guideline value was set at Rs 250 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a -33% change. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft. The 2023 revision maintained this value, with no change into the 2024 revision, which also stands at Rs 250 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Ponniamman Nagar. Overall, from 2012 to 2024, the guideline value has seen no net change.

Guideline values in Sokandi

There are a total of 35 streets in Sokandi under the Sunguvarchattram SRO, with 2024 guideline values ranging from Rs 181 to Rs 1,000 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Ponniamman Nagar's 2024 figure below this median.

• Perumal Kovil Street (colonyi): Rs 181 per sq.ft (2024)
• Perumal Kovil Street: Rs 275 per sq.ft (2024)
• RIO Teak garden: Rs 250 per sq.ft (2024)
• Sagaya Annai Nagar: Rs 200 per sq.ft (2024)
• Sebastian Avenue: Rs 450 per sq.ft (2024)
• Selvapuram: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Ponniamman nagar?

The Sub Registrar Office that covers Ponniamman Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sokandi. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ponniamman Nagar?

The current guideline value of Ponniamman Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, except for a decrease to Rs 167 per sq.ft in 2017. It then increased back to Rs 250 per sq.ft in 2023 and remained unchanged in 2024.

What is the land classification of Ponniamman Nagar?

Ponniamman Nagar is classified as Residential Special Type - III, which indicates its suitability for residential developments.

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

The Sub Registrar Office for Ponniamman Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated in Ponniamman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,50,000 would incur a stamp duty of Rs 17,500 at 7%.