Guideline Value for Abdulla sahib street

Abdulla sahib street guideline value

The current guideline value of Abdulla sahib street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Abdulla sahib street has changed

Over the years, the guideline value of Abdulla sahib street has seen several revisions. The 2007 revision recorded a value of Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft from the 2024 revision.

In terms of percentage changes, from 2007 to 2012, there was a remarkable increase of 567%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 633% from 2007 to 2024.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values for 2024 ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Abdulla sahib street.

• Abdulla vahab sahyub street: Rs 2,200 per sq.ft (2024)
• Adthavan Nagar: Rs 2,200 per sq.ft (2024)
• Alisayubu street: Rs 2,200 per sq.ft (2024)
• Ambedkar street: Rs 2,200 per sq.ft (2024)
• Amman koil street: Rs 2,200 per sq.ft (2024)
• Ammankoil street east & west: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Abdulla sahib street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Abdulla sahib street?

The Sub Registrar Office that covers Abdulla sahib street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the official assessment of property worth in the area. This value is essential for both buyers and sellers to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Abdulla sahib street?

The current guideline value of Abdulla sahib street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Which office handles registrations for Abdulla sahib street?

The Poonamallee Sub Registrar Office is responsible for handling registrations for Abdulla sahib street, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the land classification of Abdulla sahib street?

Abdulla sahib street is classified as Residential Class II Type - I, indicating its suitability for residential development.