Guideline Value for SRI PONNI NAGAR

Sri Ponni Nagar guideline value

The current guideline value of Sri Ponni Nagar, located in Sengundram - 1 village under the Chengleput Joint II SRO, is Rs 1,971 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Sri Ponni Nagar has changed

The guideline value for Sri Ponni Nagar has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,200 per sq.ft. This was followed by the 2023 revision, which increased the value to Rs 1,792 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,971 per sq.ft, reflecting a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Sri Ponni Nagar is above this median.

• Srinivasapuram: Rs 880 per sq.ft (2024)
• Sriram Nagar (Chen): Rs 880 per sq.ft (2024)
• Sri Nagar Part - II (Chen): Rs 1,100 per sq.ft (2024)
• Sri Lakshmi Nagar (Chen): Rs 880 per sq.ft (2024)
• Sri Sai Srinivasa Nagar (Chen): Rs 1,100 per sq.ft (2024)
• Sri Sakthi Nagar (Chen): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ponni Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,971 per sq.ft, the total guideline value would be Rs 19,71,000. The stamp duty at 7% would amount to Rs 1,37,970, and the registration fee at 2% would be Rs 39,420, bringing the total cost for these fees to Rs 1,77,390. It is important to note that the duty is charged on either the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ponni Nagar?

The Sub Registrar Office that covers Sri Ponni Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value plays a crucial role during the registration of properties in Sengundram - 1. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware that the guideline value can affect the overall cost of transactions.

When a property is sold, the guideline value is referenced to ensure that all fees are calculated accurately. This ensures transparency in property transactions and helps in maintaining a standard valuation across different properties in the area.

Frequently asked questions

What is the current guideline value of Sri Ponni Nagar?

The current guideline value of Sri Ponni Nagar is Rs 1,971 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2017 to Rs 1,971 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Sri Ponni Nagar?

The land classification for Sri Ponni Nagar is Mixed Type - II, which indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for Sri Ponni Nagar?

The Sub Registrar Office for Sri Ponni Nagar is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chenglepurt registration zone.

How is stamp duty calculated for properties in Sri Ponni Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,71,000, the stamp duty would be Rs 1,37,970 at a rate of 7%.