Guideline Value for Ponniyamman Koil 1st Cross Street

Ponniyamman Koil 1st Cross Street guideline value

The current guideline value of Ponniyamman Koil 1st Cross Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ponniyamman Koil 1st Cross Street has changed

The guideline value for Ponniyamman Koil 1st Cross Street has seen several revisions over the years. The earliest recorded value was Rs 219 per sq.ft in 2002, which increased to Rs 240 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 2,750 per sq.ft in 2012. However, it dropped to Rs 1,842 per sq.ft in 2017 before increasing again to Rs 2,750 per sq.ft in 2023, and finally reaching the current value of Rs 3,050 per sq.ft in 2024.

Between the revisions, notable changes include an increase of 11% from 2023 to 2024, and a significant increase of 49% from 2017 to 2023. The value saw a drastic rise of 588% from 2007 to 2012, while it decreased by 33% from 2012 to 2017. The increase from 2003 to 2007 was 67%, and from 2002 to 2003, it was 10%. Overall, from 2002 to 2024, the guideline value has increased by 1293%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, which is equal to the current guideline value for Ponniyamman Koil 1st Cross Street.

• Ponniyamman Koil 2nd Cross Street: Rs 3,050 per sq.ft (2024)
• Ponniyamman Koil 3rd Cross Street: Rs 3,050 per sq.ft (2024)
• Ponniyamman Koil Main Road: Rs 3,050 per sq.ft (2024)
• Pon Nagar: Rs 3,050 per sq.ft (2024)
• Police Lane Quarters: Rs 3,850 per sq.ft (2024)
• Poonthamalli High Road: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniyamman Koil 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value would be Rs 30,50,000. The stamp duty at 7% would amount to Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, bringing the total cost to Rs 2,74,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ponniyamman Koil 1st Cross Street?

The Sub Registrar Office that covers Ponniyamman Koil 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Maduravoyal, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the applicable duties. It is essential for both parties to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Ponniyamman Koil 1st Cross Street?

The current guideline value of Ponniyamman Koil 1st Cross Street is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 219 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1293% over the years.

What is the registration office for Ponniyamman Koil 1st Cross Street?

The registration office for Ponniyamman Koil 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,13,500.

What are the other streets with the same guideline value in Maduravoyal?

Other streets in Maduravoyal with the same guideline value of Rs 3,050 per sq.ft include Ponniyamman Koil 2nd Cross Street, Ponniyamman Koil 3rd Cross Street, Ponniyamman Koil Main Road, and Pon Nagar.