Guideline Value for Chinnamasudhi street

Chinnamasudhi street guideline value

The current guideline value of Chinnamasudhi street is Rs 2,740 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village and falls under the Poonamallee SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Chinnamasudhi street has changed

The guideline value for Chinnamasudhi street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then increased substantially to Rs 2,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,740 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Chinnamasudhi street for the years 2002 and 2003.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Chinnamasudhi street's 2024 figure above this median.

• Chinnappa Nagar: Rs 2,740 per sq.ft (2024)
• Chinnaraj Nagar: Rs 2,740 per sq.ft (2024)
• Chetti street: Rs 3,250 per sq.ft (2024)
• Churchcross Street: Rs 2,200 per sq.ft (2024)
• Chakramangala Nagar: Rs 2,740 per sq.ft (2024)
• CRM nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnamasudhi street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, making the total charges together Rs 2,46,600. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chinnamasudhi street?

The Sub Registrar Office that covers Chinnamasudhi 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 in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Chinnamasudhi street?

The current guideline value of Chinnamasudhi street is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, showing an overall increase of 585% over the years.

What are the stamp duty rates for properties in Chinnamasudhi street?

The stamp duty for properties in Chinnamasudhi street is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Chinnamasudhi street?

The Poonamallee Sub Registrar Office handles registrations for Chinnamasudhi street, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the median guideline value for streets in Poonthamallee?

The median guideline value for streets in Poonthamallee is Rs 2,200 per sq.ft, with Chinnamasudhi street's value being above this median at Rs 2,740 per sq.ft.