Guideline Value for Ponnuvel Puram 5th Street

Ponnuvel Puram 5th Street guideline value

The current guideline value of Ponnuvel Puram 5th 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 5th Street has changed

The guideline value for Ponnuvel Puram 5th Street has undergone several revisions over the years. In the 2003 revision, the value was Rs 330 per sq.ft, which increased to Rs 400 per sq.ft in 2007. The 2012 revision saw a significant rise to Rs 1,000 per sq.ft, but this was followed by a decrease to Rs 670 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,100 per sq.ft.

Between the revisions, notable changes include a 21% increase from 2003 to 2007, a 150% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023. The change from 2023 to 2024 is a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 233%. The register has no figure for this street for the year 2002.

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 5th Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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, bringing the total fees 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ponnuvel Puram 5th Street?

The Sub Registrar Office that covers Ponnuvel Puram 5th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a critical factor when buying or selling property in Chinna Sembaram Bakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ponnuvel Puram 5th Street?

The current guideline value of Ponnuvel Puram 5th 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 330 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the land classification for Ponnuvel Puram 5th Street?

Ponnuvel Puram 5th Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.