Guideline Value for Mount Poondamalli Road

Mount Poondamalli Road guideline value

The current guideline value of Mount Poondamalli Road is Rs 8,300 per sq.ft, effective from 1 July 2024. This road is located in Nandhambakkam village under the Alandur SRO, classified as Commercial Special Type - I.

How the guideline value of Mount Poondamalli Road has changed

The guideline value for Mount Poondamalli Road has seen several revisions over the years. In 2007, the value was Rs 2,100 per sq.ft, which increased significantly to Rs 7,500 per sq.ft in 2012. However, it then decreased to Rs 5,025 per sq.ft in 2017. The value rose again to Rs 7,500 per sq.ft in 2023, and most recently, it has reached Rs 8,300 per sq.ft in 2024, marking an 11% increase from the previous year.

In summary, the changes from each revision are as follows: from 2007 to 2012, there was a substantial increase of 257%; from 2012 to 2017, a decrease of 33%; followed by a significant increase of 49% from 2017 to 2023. The overall increase from 2007 to 2024 is 295%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam village has a range of guideline values across its 76 streets under the Alandur SRO, with values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Mount Poondamalli Road's 2024 figure above this median.

• Muthu Mariyamman Street: Rs 3,300 per sq.ft (2024)
• Nandampakkam Colony Street: Rs 3,900 per sq.ft (2024)
• Mariyapuram Mada Koil First Street: Rs 3,300 per sq.ft (2024)
• Mariapuram Mada Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Maniam's mango grove: Rs 5,000 per sq.ft (2024)
• North Mada Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mount Poondamalli Road

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. Please 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 details.

Which Sub Registrar Office covers Mount Poondamalli Road?

The Sub Registrar Office that covers Mount Poondamalli Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Nandhambakkam. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value reflects the minimum value at which property transactions are registered.

When a property is sold, the guideline value ensures that the sale price is not undervalued for tax purposes. This means that buyers and sellers must consider the guideline value to ensure compliance with the registration process and avoid any legal issues.

Frequently asked questions

What is the current guideline value of Mount Poondamalli Road?

The current guideline value of Mount Poondamalli Road is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2007 to Rs 8,300 per sq.ft in 2024, with various increases and decreases in between. Notably, there was a significant increase of 257% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

What is the land classification for Mount Poondamalli Road?

The land classification for Mount Poondamalli Road is Commercial Special Type - I, which indicates its intended use and zoning regulations.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000. These fees are based on the guideline value.

Which office handles property registrations for Mount Poondamalli Road?

The Alandur Sub Registrar Office handles property registrations for Mount Poondamalli Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.