Guideline Value for Ponniyamman Koil Lane

Ponniyamman Koil Lane guideline value

The current guideline value of Ponniyamman Koil Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ponniyamman Koil Lane has changed

The guideline value for Ponniyamman Koil Lane has undergone several revisions over the years. In 2002, the value was Rs 267 per sq.ft, which increased to Rs 305 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 900 per sq.ft in 2007. The 2012 revision brought the value back to Rs 3,500 per sq.ft, but it dropped to Rs 2,345 per sq.ft in 2017. The guideline value then increased to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,900 per sq.ft.

Between the revisions, notable changes include an increase of 11% from 2023 to 2024, a 49% rise from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The value saw a substantial increase of 289% from 2007 to 2012 and a 195% increase from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has risen by 1361%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the guideline value for Ponniyamman Koil Lane. Below are other streets in Adambakkam with their respective guideline values:

• Ponniyamman Koil Street: Rs 3,900 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,900 per sq.ft (2024)
• Pichan Street: Rs 5,000 per sq.ft (2024)
• Pudhupettai Street: Rs 5,000 per sq.ft (2024)
• Pushpavalli Street: Rs 3,900 per sq.ft (2024)
• Periyar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniyamman Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Therefore, the total cost for stamp duty and registration fees would be Rs 3,51,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponniyamman Koil Lane?

The Sub Registrar Office that covers Ponniyamman Koil Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Adambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it influences the stamp duty and registration fees payable during the transaction.

When a property is sold, the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions, making it essential for both buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Ponniyamman Koil Lane?

The current guideline value of Ponniyamman Koil Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 267 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1361% over the years.

What are the other streets in Adambakkam with similar guideline values?

Other streets in Adambakkam with a guideline value of Rs 3,900 per sq.ft include Ponniyamman Koil Street, Pillaiyar Koil Street, and Pushpavalli Street. Pichan Street and Pudhupettai Street have a higher guideline value of Rs 5,000 per sq.ft.

What fees are associated with buying property in Ponniyamman Koil Lane?

When buying property in Ponniyamman Koil Lane, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ponniyamman Koil Lane?

The Sub Registrar Office for Ponniyamman Koil Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.