Guideline Value for Ponnupillai Street

Ponnupillai Street guideline value

The current guideline value of Ponnupillai Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ponnupillai Street has changed

The guideline value for Ponnupillai Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 275%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a drop of 33%. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2023, which was a 49% rise, and it has now reached Rs 4,900 per sq.ft in the 2024 revision, a change of 9% from the previous year.

It is important to note that there are no figures available for Ponnupillai Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 308%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Ponnupillai Street.

• Poosanam Street: Rs 4,900 per sq.ft (2024)
• Police Manickam Pillai Street: Rs 5,500 per sq.ft (2024)
• Poachers Road (Porteous Road): Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Pilkington Road: Rs 4,900 per sq.ft (2024)
• Punitha Antoniyar Street, Chennai 82: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnupillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total fees together Rs 4,41,000. 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 Ponnupillai Street?

Ponnupillai Street is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the government. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair amount in taxes during the registration process.

Frequently asked questions

What is the current guideline value of Ponnupillai Street?

The current guideline value of Ponnupillai Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What is the land classification for Ponnupillai Street?

Ponnupillai Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at a rate of 7%.