Guideline Value for Ponnuvel Puram 3rd Street

Ponnuvel Puram 3rd Street guideline value

The current guideline value of Ponnuvel Puram 3rd 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Ponnuvel Puram 3rd Street has changed

Over the years, the guideline value for Ponnuvel Puram 3rd Street has seen several revisions. The register shows that in 2003, the value was Rs 303 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This was followed by a significant rise to Rs 1,000 per sq.ft in 2012. However, there was a decrease to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft.

The changes between these revisions were notable. From 2003 to 2007, the value increased by 32%, followed by a substantial 150% rise from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, before rising by 49% from 2017 to 2023. The most recent revision from 2023 to 2024 saw an increase of 10%. Overall, from 2003 to 2024, there has been a significant increase of 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, with a median value of Rs 1,400 per sq.ft. Ponnuvel Puram 3rd Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnuvel Puram 3rd Street?

The Sub Registrar Office that covers Ponnuvel Puram 3rd 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 plays a crucial role in property transactions in Chinna Sembaram Bakkam. It is used to determine the stamp duty and registration fees payable during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When buying or selling property, the guideline value serves as a benchmark for assessing the transaction value. It is essential to be aware of the current guideline value to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Ponnuvel Puram 3rd Street?

The current guideline value of Ponnuvel Puram 3rd Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase being 10% from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024.

What is the land classification for Ponnuvel Puram 3rd Street?

Ponnuvel Puram 3rd Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 99,000.

Which office handles registrations for Ponnuvel Puram 3rd Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011 handles registrations for Ponnuvel Puram 3rd Street.