Guideline Value for Ponnuvel Puram 1st Street

Ponnuvel Puram 1st Street guideline value

The current guideline value of Ponnuvel Puram 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village, under the Sembiam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ponnuvel Puram 1st Street has changed

The guideline value for Ponnuvel Puram 1st Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 303 per sq.ft. This increased to Rs 400 per sq.ft in 2007, then rose significantly to Rs 1,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft. The 2023 revision brought it back up to Rs 1,000 per sq.ft, and the latest 2024 revision set it at Rs 1,100 per sq.ft.

From 2017 to 2023, the value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a remarkable 150%. The value also rose by 32% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 263%. The register has no figure for the year 2002 for this street.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median guideline value for these streets is Rs 1,400 per sq.ft, placing Ponnuvel Puram 1st Street's 2024 figure below that median.

• Ponnuvel Puram 2nd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 3rd Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 4th Street: Rs 1,100 per sq.ft (2024)
• Ponnuvel Puram 5th Street: Rs 1,100 per sq.ft (2024)
• Ponnusamy Street: Rs 1,100 per sq.ft (2024)
• Pilkinstan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnuvel Puram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 Ponnuvel Puram 1st Street?

The Sub Registrar Office covering Ponnuvel Puram 1st 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 Chinna Sembaram Bakkam

The guideline value is a crucial factor when registering property transactions in Chinna Sembaram Bakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transactions are conducted at a fair value.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Ponnuvel Puram 1st Street?

The current guideline value of Ponnuvel Puram 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 303 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, with various revisions in between. The most significant increase was from Rs 400 in 2007 to Rs 1,000 in 2012.

What is the median guideline value in Chinna Sembaram Bakkam?

The median guideline value for streets in Chinna Sembaram Bakkam is Rs 1,400 per sq.ft, making Ponnuvel Puram 1st Street's 2024 figure below this median.

What are the stamp duty and registration fees for property in Ponnuvel Puram 1st Street?

For a 1,000 sq.ft property at the guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Ponnuvel Puram 1st Street?

The Sembiam Sub Registrar Office handles property registrations for Ponnuvel Puram 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.