Guideline Value for Ponnusamy Street

Ponnusamy Street guideline value

The current guideline value of Ponnusamy Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village, under the Sembiam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ponnusamy Street has changed

The guideline value for Ponnusamy Street has seen several revisions over the years. In 2003, the value was Rs 635 per sq.ft. This increased to Rs 600 per sq.ft in 2007, then rose significantly to Rs 1,000 per sq.ft in 2012. Following a decrease to Rs 670 per sq.ft in 2017, the value jumped to Rs 1,000 per sq.ft in 2023, and is now Rs 1,100 per sq.ft as of 2024. The register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 49%, while from 2023 to 2024, it rose by 10%. The change from 2012 to 2017 saw a decline of 33%, and the increase from 2007 to 2012 was 67%. The overall change from 2003 to 2024 is an increase of 73%.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median of Rs 1,400 per sq.ft. Ponnusamy Street's current guideline value is below this median.

• Ponnuvel Puram 1st Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 2nd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 3rd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 4th Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 5th Street: Rs 1,100 per sq.ft (2024)
• Pilkinstan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnusamy Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnusamy Street?

The Sub Registrar Office that covers Ponnusamy Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a crucial factor when registering property transactions in Chinna Sembaram Bakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the necessary fees, ensuring compliance with local regulations. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ponnusamy Street?

The current guideline value of Ponnusamy Street 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 from Rs 635 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, with several revisions in between. Notably, there was a 49% increase from 2017 to 2023.

What are the guideline values of other streets in Chinna Sembaram Bakkam?

Other streets in Chinna Sembaram Bakkam have guideline values ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median of Rs 1,400 per sq.ft. Ponnusamy Street's value is below this median.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft property at Rs 1,100 per sq.ft incurs a total fee of Rs 99,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in Ponnusamy Street.