Guideline Value for Ponnuswami Avenue

Ponnuswami Avenue guideline value

The current guideline value of Ponnuswami Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Ponnuswami Avenue has changed

The guideline value for Ponnuswami Avenue has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,500 per sq.ft, which increased to Rs 1,650 per sq.ft in the 2024 revision, marking a change of +10%.

With the 2024 revision, the current guideline value stands at Rs 1,650 per sq.ft. This reflects a notable increase from the previous year's figure, highlighting the adjustments made in the valuation of properties in this area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Ponnuswami Avenue's 2024 figure below that median.

• Ponnurangam Street: Rs 2,750 per sq.ft (2024)
• Ponnurangam Cross Street: Rs 2,750 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 Ponnuswami Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnuswami Avenue?

Ponnuswami Avenue 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 plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency and facilitates smoother property dealings within the area.

Frequently asked questions

What is the current guideline value of Ponnuswami Avenue?

The current guideline value of Ponnuswami Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by +10% from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Ponnuswami Avenue.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 1,48,500.