Guideline Value for Ponnurangam Street

Ponnurangam Street guideline value

The current guideline value of Ponnurangam Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Ponnurangam Street has changed

The guideline value for Ponnurangam Street has seen several revisions over the years. The 2023 revision set the value at Rs 2,500 per sq.ft, which was an increase from previous years. However, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

In the latest 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% rise from the previous year's figure. This adjustment aligns Ponnurangam Street with the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

The guideline values in Madipakkam-1 village range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Ponnurangam Street's 2024 value matches this median. Here are some other streets in Madipakkam-1:

• Ponnurangam Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is calculated at 7%, resulting in Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Together, these fees total Rs 2,47,500. 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 Ponnurangam Street?

Ponnurangam Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Madipakkam-1, this value is used to calculate the stamp duty and registration fees, ensuring that all transactions comply with local regulations.

During the registration process, the guideline value helps to establish a fair basis for the taxes owed on the property. It is essential for buyers and sellers to be aware of these values to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value of Ponnurangam Street?

The current guideline value of Ponnurangam Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for properties on Ponnurangam Street?

For a 1,000 sq.ft plot, the guideline value is Rs 27,50,000. The stamp duty is Rs 1,92,500, and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Ponnurangam Street?

Ponnurangam Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Ponnurangam Street?

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