Guideline Value for Ponnusamy Nagar

Ponnusamy Nagar guideline value

The current guideline value of Ponnusamy Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Ponnusamy Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,600 per sq.ft. This figure saw a significant decrease to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value rose sharply to Rs 1,600 per sq.ft in 2023, marking a 49% increase from 2017. The most recent revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, which is a 6% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Ponnusamy Nagar. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, placing Ponnusamy Nagar's 2024 figure below this median.

• Periyar Nagar: Rs 1,700 per sq.ft (2024)
• Palaniappa Road: Rs 3,000 per sq.ft (2024)
• Ravi Garden: Rs 3,000 per sq.ft (2024)
• Ravi Garden 1st Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 2nd Street: Rs 3,000 per sq.ft (2024)
• Ravi Garden 3rd Street: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnusamy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnusamy Nagar?

The Sub Registrar Office covering Ponnusamy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Jampuli. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Ponnusamy Nagar?

The current guideline value of Ponnusamy Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has gone through several revisions. It was Rs 1,600 in 2012, decreased to Rs 1,072 in 2017, increased to Rs 1,600 in 2023, and is now Rs 1,700 in 2024.

What is the land classification of Ponnusamy Nagar?

Ponnusamy Nagar is classified as Residential Class IV Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for properties in Ponnusamy Nagar?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Ponnusamy Nagar located?

The Madhavaram Sub Registrar Office, which covers Ponnusamy Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.