Guideline Value for Mount Poobamallee Road

Mount Poobamallee Road guideline value

The current guideline value of Mount Poobamallee Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Parangimalai village, under the Chennai South Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Mount Poobamallee Road has changed

Over the years, the guideline value of Mount Poobamallee Road has seen significant changes. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, marking a substantial rise of 289%. However, this value decreased to Rs 4,690 per sq.ft in 2017, reflecting a drop of 33%. The value then rose sharply to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024, which is an increase of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 328%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the guideline value of Mount Poobamallee Road above the median.

• Mosque Street: Rs 3,300 per sq.ft (2024)
• Mokshin Road: Rs 3,300 per sq.ft (2024)
• M.K.Road Ist Lane / Iind Lane: Rs 5,500 per sq.ft (2024)
• M.K.N.Road 3nd Street: Rs 5,500 per sq.ft (2024)
• M.K.N. Road 1st Street: Rs 5,500 per sq.ft (2024)
• M.K.N Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mount Poobamallee Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mount Poobamallee Road?

The Sub Registrar Office that covers Mount Poobamallee Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mount Poobamallee Road?

The current guideline value of Mount Poobamallee Road is Rs 7,700 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 1,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Mount Poobamallee Road?

Mount Poobamallee Road is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Mount Poobamallee Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties on this road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at 7%.