Guideline Value for Sri Ponniamman Nagar

Sri Ponniamman Nagar guideline value

The current guideline value of Sri Ponniamman Nagar is Rs 820 per sq.ft, effective from 1 July 2024. This street is located in Pammathukulam village and falls under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Ponniamman Nagar has changed

The guideline value for Sri Ponniamman Nagar has seen significant changes over the years. In 2007, the value was Rs 100 per sq.ft, which rose dramatically to Rs 750 per sq.ft by 2012, marking an increase of 650%. However, by 2017, the value decreased to Rs 502 per sq.ft, a decline of 33%. The value then increased to Rs 750 per sq.ft in 2023, followed by a further rise to Rs 820 per sq.ft in 2024, representing a 9% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 720%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Sri Ponniamman Nagar is above this median.

• Sri Pathmavathi Nagar (S.No.603/1): Rs 660 per sq.ft (2024)
• Sri Pathmavathi Nagar: Rs 660 per sq.ft (2024)
• Sri Pachayamman Nagar: Rs 550 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 550 per sq.ft (2024)
• Srinivasa Nagar Extension - II: Rs 550 per sq.ft (2024)
• Srinivasa Nagar: Rs 550 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 820 per sq.ft, the total guideline value would be Rs 8,20,000. The stamp duty at 7% would amount to Rs 57,400, and the registration fee at 2% would be Rs 16,400, resulting in a total of Rs 73,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sri Ponniamman Nagar?

Sri Ponniamman Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pammathukulam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value serves as a benchmark for the transaction value, ensuring that the appropriate fees are collected based on the property's assessed worth.

When a buyer or seller engages in a property transaction, the guideline value helps to establish a fair and transparent process for both parties. It ensures that the government receives the correct revenue from property transactions, which is essential for maintaining public services and infrastructure.

Frequently asked questions

What is the current guideline value of Sri Ponniamman Nagar?

The current guideline value of Sri Ponniamman Nagar is Rs 820 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 100 per sq.ft in 2007 to Rs 820 per sq.ft in 2024, reflecting an overall increase of 720% over this period.

What are the stamp duty and registration fees for properties in Sri Ponniamman Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,20,000, the total fees would amount to Rs 73,800.

Which Sub Registrar Office covers Sri Ponniamman Nagar?

The Redhills Sub Registrar Office covers Sri Ponniamman Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for the transaction value, ensuring that the appropriate fees are collected based on the assessed worth of the property.