Guideline Value for P.G.P NAGAR 1ST STREET

P.G.P Nagar 1st Street guideline value

The current guideline value of P.G.P Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of P.G.P Nagar 1st Street has changed

The guideline value for P.G.P Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then dropped to Rs 1,340 per sq.ft in the 2017 revision, reflecting a decrease of 33%. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the current figure for P.G.P Nagar 1st Street.

• P.G.P Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• P.G.P Nagar Extension: Rs 2,210 per sq.ft (2024)
• Pillaiyar koil st: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in P.G.P Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers P.G.P Nagar 1st Street?

The P.G.P Nagar 1st Street falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

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

When buying or selling property, it is essential to consider the guideline value, as it can impact the overall costs associated with the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher value will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of P.G.P Nagar 1st Street?

The current guideline value of P.G.P Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for P.G.P Nagar 1st Street?

P.G.P Nagar 1st Street is classified as Residential Class II Type - I under the Poonamallee SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for P.G.P Nagar 1st Street?

The Poonamallee Sub Registrar Office handles registrations for P.G.P Nagar 1st Street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.