Guideline Value for Ponnurangam Cross Street

Ponnurangam Cross Street guideline value

The current guideline value of Ponnurangam Cross Street is Rs 2,750 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ponnurangam Cross Street has changed

The guideline value for Ponnurangam Cross Street has seen revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,500 per sq.ft, which increased to Rs 2,750 per sq.ft in the 2024 revision, marking a change of +10%.

Thus, the most recent revision in 2024 reflects a significant increase from the previous year. The current value aligns with the median guideline value for Madipakkam-1, which is also Rs 2,750 per sq.ft.

Guideline values in Madipakkam-1

Madipakkam-1 village features a range of guideline values across its 1,823 streets, with figures for 2024 ranging from Rs 1,650 to Rs 5,500 per sq.ft. The guideline value for Ponnurangam Cross Street is equal to the median of Rs 2,750 per sq.ft.

• Ponnurangam Street: Rs 2,750 per sq.ft (2024)
• Ponnuswami Avenue: Rs 1,650 per sq.ft (2024)
• Ponniamman Nagar: Rs 2,200 per sq.ft (2024)
• Ponni Amman Koil Street,Nethaji Street: Rs 2,200 per sq.ft (2024)
• Ponni Amman Koil Street,Nethaji Nagar: Rs 2,200 per sq.ft (2024)
• Ponniamman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnurangam Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees together Rs 2,47,500. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Ponnurangam Cross Street?

The Sub Registrar Office that covers Ponnurangam Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value serves as a benchmark for property transactions in Madipakkam-1. When buying or selling property, the guideline value is essential for calculating stamp duty and registration fees, which are mandatory during the registration process.

It is crucial for buyers and sellers to be aware of the guideline value as it directly impacts the costs involved in property transactions. The registration process requires adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ponnurangam Cross Street?

The current guideline value of Ponnurangam Cross Street is Rs 2,750 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value for Ponnurangam Cross Street has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a +10% increase.

What is the land classification for Ponnurangam Cross Street?

Ponnurangam Cross Street is classified as Residential Class I Type - III.

Where can I find the registration office for Ponnurangam Cross Street?

The registration office for Ponnurangam Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Ponnurangam Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,92,500.