Guideline Value for Ponnusamy Nagar

Ponnusamy Nagar guideline value

The current guideline value of Ponnusamy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Ponnusamy Nagar has changed

The guideline value for Ponnusamy Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 265 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, it dropped to Rs 670 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft.

From 2007 to 2024, the guideline value has increased by 315%. Notably, the increase from 2023 to 2024 was 10%, while the jump from 2017 to 2023 was 49%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Ponnusamy Nagar's 2024 figure below that median.

• Periyar street: Rs 990 per sq.ft (2024)
• Rajathi Kalaigar Nagar: Rs 1,320 per sq.ft (2024)
• Rajiv Street: Rs 1,100 per sq.ft (2024)
• Ramakrishna Nagar: Rs 1,110 per sq.ft (2024)
• Ramakrishna Salai: Rs 1,540 per sq.ft (2024)
• Ram Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnusamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. It is important to note that the 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 Ponnusamy Nagar?

Ponnusamy Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mannivakkam. It is used to determine the stamp duty and registration fees payable during the registration of property transactions. The guideline value ensures that the transaction is recorded at a fair value as per the local regulations.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall cost of the transaction. Buyers should consider this value when negotiating the sale price to ensure compliance with local registration requirements.

Frequently asked questions

What is the current guideline value of Ponnusamy Nagar?

The current guideline value of Ponnusamy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 265 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 315% over this period.

What are the other streets in Mannivakkam and their guideline values?

Other streets in Mannivakkam include Periyar street at Rs 990 per sq.ft, Rajathi Kalaigar Nagar at Rs 1,320 per sq.ft, and Ramakrishna Salai at Rs 1,540 per sq.ft, among others.

How is stamp duty calculated in Ponnusamy Nagar?

Stamp duty in Ponnusamy Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where is the Sub Registrar Office for Ponnusamy Nagar located?

The Gooduvancheri Sub Registrar Office covers Ponnusamy Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.