Guideline Value for Ponnusamy Street

Ponnusamy Street guideline value

The current guideline value of Ponnusamy Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ponnusamy Street has changed

According to the register, there are no figures for Ponnusamy Street in the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 8,000 per sq.ft in the 2023 revision, which then increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

The current value of Rs 8,700 per sq.ft is a reflection of the 2024 revision, which shows an increase from the previous year. This change indicates a rise in the guideline value from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a guideline value range from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Ponnusamy Street's 2024 figure below the median.

• Poes Road 4th Street: Rs 10,900 per sq.ft (2024)
• Poes Road 3rd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 2nd Street: Rs 10,900 per sq.ft (2024)
• Poes Road 1st Street: Rs 10,900 per sq.ft (2024)
• Poes Road: Rs 10,900 per sq.ft (2024)
• Poes Garden: Rs 19,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnusamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty, charged at 7%, would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, making the total charges Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ponnusamy Street?

Ponnusamy Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the registration process. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ponnusamy Street?

The current guideline value of Ponnusamy Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase.

What is the land classification for Ponnusamy Street?

Ponnusamy Street is classified as Residential Class I Type - III, which is relevant for determining the guideline value.

Where can I find the registration office for Ponnusamy Street?

The registration office covering Ponnusamy Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for property in Ponnusamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 at 7%.