Guideline Value for Ponnuswamy Street (Near Milk Colony Road)

Ponnuswamy Street (Near Milk Colony Road) guideline value

The current guideline value of Ponnuswamy Street (Near Milk Colony Road) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Ponnuswamy Street (Near Milk Colony Road) has changed

The guideline value for Ponnuswamy Street has undergone significant changes over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2023. The 2017 revision set the guideline value at Rs 1,675 per sq.ft, which was then increased to Rs 2,700 per sq.ft in the 2024 revision, marking a change of +61%.

In summary, the most recent revision in 2024 reflects a substantial increase from the 2017 figure. The current guideline value aligns with the median guideline value of Rs 2,700 per sq.ft for the 1318 streets in Kodungaiyur under the Madhavaram SRO.

Guideline values in Kodungaiyur

Kodungaiyur has a range of guideline values for its streets, with figures for the 2024 revision ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for Ponnuswamy Street. Here are some other streets in Kodungaiyur:

• Poongavanam Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Playground Street (West): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnuswamy Street (Near Milk Colony Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnuswamy Street (Near Milk Colony Road)?

The Sub Registrar Office that covers Ponnuswamy Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an important factor during the registration process when buying or selling property in Kodungaiyur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

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

Frequently asked questions

What is the current guideline value of Ponnuswamy Street?

The current guideline value of Ponnuswamy Street (Near Milk Colony Road) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, which is a change of +61%.

What is the land classification for Ponnuswamy Street?

Ponnuswamy Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.