Guideline Value for Ponnuswamy Street

Ponnuswamy Street guideline value

The current guideline value of Ponnuswamy Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ponnuswamy Street has changed

The guideline value for Ponnuswamy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, and the most recent 2024 revision has raised it further to Rs 880 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes in the guideline values from 2012 to 2024 show a 10% overall increase. The changes between the revisions are as follows: a decrease of 33% from 2012 to 2017, an increase of 49% from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai village, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this area is Rs 870 per sq.ft, and Ponnuswamy Street's 2024 figure of Rs 880 per sq.ft is above that median.

• Poompozhil Nagar: Rs 1,100 per sq.ft (2024)
• Poompozhil Nagar Tank: Rs 1,100 per sq.ft (2024)
• Ponnappillai Street: Rs 880 per sq.ft (2024)
• Ponnapillai Nagar: Rs 1,200 per sq.ft (2024)
• Poniammankoil Street: Rs 805 per sq.ft (2024)
• Pompozhil Nager Yamunai Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnuswamy Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 Ponnuswamy Street?

The Sub Registrar Office that covers Ponnuswamy Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Ponnuswamy Street?

The current guideline value of Ponnuswamy Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and is now Rs 880 per sq.ft in 2024.

What is the land classification for Ponnuswamy Street?

Ponnuswamy Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Ponnuswamy Street?

The Ambattur Sub Registrar Office handles registrations for Ponnuswamy Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.