Guideline Value for Ponnuswamy Nagar 2nd Street

Ponnuswamy Nagar 2nd Street guideline value

The current guideline value of Ponnuswamy Nagar 2nd 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Ponnuswamy Nagar 2nd Street has changed

Over the years, the guideline value of Ponnuswamy Nagar 2nd Street has seen significant changes. The 2007 revision recorded a value of Rs 800 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and it has now reached Rs 2,700 per sq.ft in the 2024 revision, marking an increase of 8% from the previous year.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 was a decrease of 33%. The increase from 2007 to 2012 was substantial at 213%. Overall, from 2007 to 2024, the guideline value has increased by 238%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Sembiam

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

• Ponnuswamy Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty is calculated at 7%, which comes to Rs 1,89,000, while the registration fee is charged at 2%, totaling Rs 54,000. Therefore, the total cost for stamp duty and registration fee together is 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.

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

Which Sub Registrar Office covers Ponnuswamy Nagar 2nd Street?

The Sub Registrar Office that covers Ponnuswamy Nagar 2nd 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 Sembiam

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as the basis for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the higher value between the guideline value and the sale price is used to calculate the applicable duties. This ensures that the registration process is transparent and reflects the prevailing market conditions as determined by the government.

Frequently asked questions

What is the current guideline value of Ponnuswamy Nagar 2nd Street?

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

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 800 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 238% over the years.

What is the stamp duty rate for properties in Ponnuswamy Nagar 2nd Street?

The stamp duty rate for properties in Ponnuswamy Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ponnuswamy Nagar 2nd Street?

The Sub Registrar Office for Ponnuswamy Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the other streets in Sembiam with similar guideline values?

Other streets in Sembiam with a guideline value of Rs 2,700 per sq.ft include Ponnuswamy Nagar 1st Street and Ponnuswamy Nagar 3rd Street, among others.