Guideline Value for ponnappa 2nd lane

Ponnappa 2nd Lane guideline value

The current guideline value of Ponnappa 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Ponnappa 2nd Lane has changed

The guideline value for Ponnappa 2nd Lane has undergone several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which decreased to Rs 3,015 per sq.ft in 2017. This marked a decline of 25%. However, from 2017 to 2023, the value rose significantly to Rs 4,500 per sq.ft, reflecting an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, a change of 9% from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 23%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Ponnappa 2nd Lane's 2024 figure below that median.

• Ponnappa 1st Lane: Rs 4,900 per sq.ft (2024)
• Ponnappa 3rd Lane: Rs 4,900 per sq.ft (2024)
• Ponnan Street: Rs 4,900 per sq.ft (2024)
• Ponnappa Mudali Street: Rs 4,900 per sq.ft (2024)
• Ponnan Cheri: Rs 3,800 per sq.ft (2024)
• Ponnan 3rd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ponnappa 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ponnappa 2nd Lane?

The Sub Registrar Office that covers Ponnappa 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can also find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ponnappa 2nd Lane?

The current guideline value of Ponnappa 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 in 2012 to Rs 3,015 in 2017, then to Rs 4,500 in 2023, and finally to Rs 4,900 in 2024.

What is the land classification for Ponnappa 2nd Lane?

Ponnappa 2nd Lane is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Ponnappa 2nd Lane?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property in Ponnappa 2nd Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,43,000 at 7%.