Guideline Value for Almelumangapuram Street

Almelumangapuram Street guideline value

The current guideline value of Almelumangapuram Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Porunthavakkam village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Almelumangapuram Street has changed

The guideline value for Almelumangapuram Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012, marking a 129% rise. However, in the 2017 revision, the value decreased to Rs 1,072 per sq.ft, representing a 33% drop. The value then rose to Rs 1,600 per sq.ft in 2023, and most recently, it has increased to Rs 1,760 per sq.ft in 2024, a 10% increase.

There are no figures available for the revisions in 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 151%.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median value among these streets is Rs 2,420 per sq.ft, placing Almelumangapuram Street's 2024 value below this median.

• Adhisankarar Street: Rs 2,310 per sq.ft (2024)
• Anna Street: Rs 2,420 per sq.ft (2024)
• Balaiah Road: Rs 2,420 per sq.ft (2024)
• Bhuvaneswari Street: Rs 2,750 per sq.ft (2024)
• Gopal Street: Rs 3,300 per sq.ft (2024)
• Iyapa Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Almelumangapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, resulting in a total of Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Almelumangapuram Street?

The Sub Registrar Office that covers Almelumangapuram Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Porunthavakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the costs associated with property registration. This value is periodically revised, reflecting changes in the local real estate market.

Frequently asked questions

What is the current guideline value of Almelumangapuram Street?

The current guideline value of Almelumangapuram Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,760 per sq.ft in 2024, showing an overall increase of 151% over the years.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Almelumangapuram Street?

The Pallavaram Sub Registrar Office handles property registrations for Almelumangapuram Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Almelumangapuram Street?

Almelumangapuram Street is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.