Guideline Value for Ponnuswamy Nagar 1st Street

Ponnuswamy Nagar 1st Street guideline value

The current guideline value of Ponnuswamy Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Ponnuswamy Nagar 1st Street has changed

The guideline value for Ponnuswamy Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 282 per sq.ft, which increased significantly to Rs 800 per sq.ft by 2007. The 2012 revision saw a slight increase to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,700 per sq.ft. The register has no figure for this street in 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 8%. The largest increase occurred between 2007 and 2012, with a rise of 213%. Overall, from 2002 to 2024, the guideline value has increased by 857%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current value for Ponnuswamy Nagar 1st Street.

• Ponnuswamy Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ponnuswamy Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Pongagiri Lane: Rs 1,700 per sq.ft (2024)
• Prakasam Street: Rs 3,800 per sq.ft (2024)
• Prakasam Street (Kennady Square): Rs 2,700 per sq.ft (2024)
• Prakash Avenue: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnuswamy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, calculated at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the 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 Ponnuswamy Nagar 1st Street?

The Sub Registrar Office that covers Ponnuswamy Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Sembiam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Ponnuswamy Nagar 1st Street?

The current guideline value of Ponnuswamy Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 282 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 857% over this period.

What is the stamp duty for property in Ponnuswamy Nagar 1st Street?

The stamp duty for property in Ponnuswamy Nagar 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ponnuswamy Nagar 1st Street located?

The Sub Registrar Office for Ponnuswamy Nagar 1st Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Ponnuswamy Nagar 1st Street?

Ponnuswamy Nagar 1st Street falls under the Residential Class I Type - I land classification.