Guideline Value for Sri Ponniamman Nagar

Sri Ponniamman Nagar guideline value

The current guideline value of Sri Ponniamman Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Kolacheri village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Ponniamman Nagar has changed

The guideline value for Sri Ponniamman Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The value rose again to Rs 600 per sq.ft in 2023 and has now increased to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Kolacheri

In Kolacheri village, there are 13 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,450 per sq.ft, with the median being Rs 660 per sq.ft. Sri Ponniamman Nagar's current guideline value is equal to this median.

• Sri Panjali Amman Nagar: Rs 660 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Phase I: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar & Extn: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Janani Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ponniamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, together amounting to Rs 59,400. It is important to note that 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 details.

Which Sub Registrar Office covers Sri Ponniamman Nagar?

The Sub Registrar Office that covers Sri Ponniamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Kolacheri. It determines the minimum value at which a property can be registered, ensuring that the government receives its due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark to assess the transaction's legitimacy. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ponniamman Nagar?

The current guideline value of Sri Ponniamman Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the registration office for Sri Ponniamman Nagar?

The registration office for Sri Ponniamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200.

What are the other streets in Kolacheri with the same guideline value?

Other streets in Kolacheri with a guideline value of Rs 660 per sq.ft include Sri Panjali Amman Nagar, Sri Rajarajeswari Nagar, Sri Karumariamman Nagar Phase I, Sri Karumariamman Nagar & Extn, Sri Karumariamman Nagar Annexe, and Sri Janani Nagar.