Guideline Value for Ponniyamman Nagar

Ponniyamman Nagar guideline value

The current guideline value of Ponniyamman Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vedanareyanapuram village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - II.

How the guideline value of Ponniyamman Nagar has changed

The guideline value for Ponniyamman Nagar has seen several revisions over the years. The earliest recorded figure was Rs 123 per sq.ft in 2007, which increased significantly to Rs 500 per sq.ft in 2012. However, this value remained unchanged until the 2017 revision, which saw a notable increase to Rs 335 per sq.ft. From 2017 to 2023, the value rose by 49%, bringing it to Rs 500 per sq.ft, a figure that has remained consistent through the 2024 revision.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 307%.

Guideline values in Vedanareyanapuram

In Vedanareyanapuram, there are 31 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,050 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Ponniyamman Nagar is below this median.

• Perumal Nagar Ext: Rs 500 per sq.ft (2024)
• Perumal Nagar: Rs 500 per sq.ft (2024)
• Ragava Nagar Extension-II: Rs 900 per sq.ft (2024)
• Ragavan Nagar: Rs 500 per sq.ft (2024)
• Ragavendra nagar: Rs 600 per sq.ft (2024)
• Ragavendra nagar Ext: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Ponniyamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponniyamman Nagar?

The Chengleput Joint I Sub Registrar Office covers Ponniyamman Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vedanareyanapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Ponniyamman Nagar?

The current guideline value of Ponniyamman Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 123 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, remained the same until 2017, increased to Rs 335 per sq.ft, and then returned to Rs 500 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Ponniyamman Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 45,000 based on the current guideline value.

Which office handles property registrations in Ponniyamman Nagar?

The Chengleput Joint I Sub Registrar Office handles property registrations in Ponniyamman Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Ponniyamman Nagar?

Ponniyamman Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.