Guideline Value for James street

James street guideline value

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

How the guideline value of James street has changed

The guideline value for James street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,740 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall change in the guideline value is an increase of 448%. Notably, the value rose by 400% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023 and finally by 10% from 2023 to 2024.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. James street’s 2024 guideline value of Rs 2,740 per sq.ft is above this median.

• James Road: Rs 2,740 per sq.ft (2024)
• Indira nagar: Rs 2,200 per sq.ft (2024)
• Judge chellappa road: Rs 2,740 per sq.ft (2024)
• Kalaimagal nagar: Rs 2,200 per sq.ft (2024)
• Kalaingar street: Rs 2,200 per sq.ft (2024)
• Govindaraja nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in James 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, bringing the total cost to Rs 2,46,600. 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 detailed calculations.

Which Sub Registrar Office covers James street?

The Sub Registrar Office that covers James 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 plays a crucial role in the registration process of property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at an appropriate value, which helps maintain transparency in property dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of James street?

The current guideline value of James 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 500 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, showing a significant overall increase of 448% over the years.

What is the land classification of James street?

James street is classified as Residential Class I Type - I under the land classification system.

Where can I find the Sub Registrar Office for James street?

The Sub Registrar Office for James street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

How is stamp duty calculated for properties on James street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,91,800.