Guideline Value for Ponnuswamy Street

Ponnuswamy Street guideline value

The current guideline value of Ponnuswamy Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - II.

How the guideline value of Ponnuswamy Street has changed

The guideline value for Ponnuswamy Street has undergone several revisions over the years. The earliest recorded revision is from 2007, when the guideline value was Rs 700 per sq.ft. This figure increased to Rs 1,005 per sq.ft in 2017, marking a 44% rise. In 2023, the value further increased to Rs 1,500 per sq.ft, reflecting a significant 49% growth from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from 2023. The register has no figures for the years 2002, 2003, and 2012.

Overall, from 2007 to 2024, the guideline value has increased by 129%. This consistent rise indicates the changing landscape of property values in the area.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is the same as the current figure for Ponnuswamy Street. Below are some other streets in Tondaiarpet:

• Poondi Thangammal Street: Rs 1,600 per sq.ft (2024)
• Poongavanam Kuppam: Rs 1,300 per sq.ft (2024)
• Power Kuppam: Rs 1,300 per sq.ft (2024)
• P.P.Amman Koil (East): Rs 1,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,200 per sq.ft (2024)
• Pumping Station Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnuswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration would be Rs 1,44,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Ponnuswamy Street?

Ponnuswamy Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value as it impacts the overall cost involved in the registration process. Buyers and sellers should ensure they are informed about the current guideline values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Ponnuswamy Street?

The current guideline value of Ponnuswamy Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking a total increase of 129% over the years.

What are the stamp duty and registration fees for property in Ponnuswamy Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000 based on the current guideline value.

Which Sub Registrar Office covers Ponnuswamy Street?

Ponnuswamy Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Ponnuswamy Street?

Ponnuswamy Street is classified as Residential Class I Type - II.