Guideline Value for MOUNT POONAMALLEE ROAD

Mount Poonamallee Road guideline value

The current guideline value of Mount Poonamallee Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Iyyappanthangal village under the Chennai South Joint I SRO, and the land classification is Commercial Special Type - I.

How the guideline value of Mount Poonamallee Road has changed

The guideline value for Mount Poonamallee Road has seen significant changes over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and as of 2024, it stands at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and Mount Poonamallee Road's 2024 figure is above this median.

• M.G.R.Street (Slum Board): Rs 1,100 per sq.ft (2024)
• Mettu Street (Vanniya): Rs 2,200 per sq.ft (2024)
• Mettu Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Mettu Colony 1st Street: Rs 1,650 per sq.ft (2024)
• Mettu Colony: Rs 1,650 per sq.ft (2024)
• Maruthi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mount Poonamallee Road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mount Poonamallee Road?

The Sub Registrar Office that covers Mount Poonamallee Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value is regularly updated to reflect changes in the market and land use classifications.

Frequently asked questions

What is the current guideline value of Mount Poonamallee Road?

The current guideline value of Mount Poonamallee Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 450%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for properties on Mount Poonamallee Road?

The Chennai South Joint I Sub Registrar Office handles the registration for properties on Mount Poonamallee Road.

What is the land classification for Mount Poonamallee Road?

The land classification for Mount Poonamallee Road is Commercial Special Type - I.