Guideline Value for Magilam poo street

Magilam poo street guideline value

The current guideline value of Magilam poo street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Ponthoor village under the Sriperumpudur SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Magilam poo street has changed

Over the years, the guideline value for Magilam poo street has experienced several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision, where it was still Rs 300 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 300 per sq.ft. The 2024 revision has maintained this figure, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Thus, the guideline value has remained consistent at Rs 300 per sq.ft from 2012 to 2024, with fluctuations noted in earlier years.

Guideline values in Ponthoor

Ponthoor village has a total of 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,239 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which aligns with the current guideline value of Magilam poo street.

• Malligai Poo Street: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 402 per sq.ft (2024)
• Kuvalai Poo Street: Rs 300 per sq.ft (2024)
• Kurinchi Poo Street: Rs 300 per sq.ft (2024)
• Manoranjitham Poo Street: Rs 300 per sq.ft (2024)
• Konrai Poo Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Magilam poo street

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that 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 Magilam poo street?

The Sub Registrar Office that covers Magilam poo street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Ponthoor. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When you buy or sell property, the guideline value helps establish the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value of Magilam poo street?

The current guideline value of Magilam poo street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since the 2012 revision, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What are the other streets in Ponthoor with similar guideline values?

Other streets in Ponthoor with a guideline value of Rs 300 per sq.ft include Malligai Poo Street, Kuvalai Poo Street, Kurinchi Poo Street, Manoranjitham Poo Street, and Konrai Poo Street.

How is the stamp duty calculated for properties in Magilam poo street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000, leading to a stamp duty of Rs 21,000.

Where can I find the Sub Registrar Office for Magilam poo street?

The Sub Registrar Office for Magilam poo street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.