Guideline Value for Ponniamman nagar

Ponniamman nagar guideline value

The current guideline value of Ponniamman Nagar, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Ponniamman nagar has changed

The guideline value for Ponniamman Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, making Ponniamman Nagar's 2024 figure equal to this median.

• Ponniamman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar Cross Street: Rs 2,200 per sq.ft (2024)
• Police station road: Rs 2,200 per sq.ft (2024)
• Pillayar Koil Street Lane: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniamman nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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 the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponniamman nagar?

The Sub Registrar Office that covers Ponniamman Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Ponniamman Nagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the appropriate stamp duty and registration fees are calculated based on this value.

When buying or selling property, the guideline value helps in understanding the official valuation of the property. It is essential for both buyers and sellers to be aware of this value to ensure compliance with legal requirements 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 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 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What are the guideline values for other streets in Poonthamallee?

Other streets in Poonthamallee have varying guideline values, with the 2024 rates for Ponniamman Nagar 1st, 2nd, and 3rd Streets, as well as the Cross Street and Police Station Road, all set at Rs 2,200 per sq.ft.

What is the stamp duty rate for property in Ponniamman Nagar?

The stamp duty rate for property transactions in Ponniamman Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Ponniamman Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more information about your SRO online.