Guideline Value for PARK THUKAR (MOUNT POONAMALLEE HIGH) (GEMINI GANES

Park Thukar (Mount Poonamallee High) (Gemini Ganes guideline value

The current guideline value for Park Thukar (Mount Poonamallee High) (Gemini Ganes is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Ramapuram village, under the Chennai South Joint II SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Park Thukar (Mount Poonamallee High) (Gemini Ganes has changed

The guideline value for Park Thukar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 2,083 per sq.ft. This increased to Rs 3,500 per sq.ft in 2012, marking a significant rise of 68%. However, the value then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value surged by 49% to reach Rs 3,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 85%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, placing Park Thukar's 2024 figure above this median.

• Park Dugar: Rs 3,850 per sq.ft (2024)
• Pasupathi Street: Rs 3,100 per sq.ft (2024)
• Palani Naicker Street: Rs 1,950 per sq.ft (2024)
• Palaiyakara Street: Rs 1,950 per sq.ft (2024)
• Padmavathi Street: Rs 1,950 per sq.ft (2024)
• Periyar Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Park Thukar (Mount Poonamallee High) (Gemini Ganes

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value totals Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Park Thukar (Mount Poonamallee High) (Gemini Ganes?

The Sub Registrar Office that covers Park Thukar 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transactions are in accordance with the legal requirements set by the authorities.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value for Park Thukar?

The current guideline value for Park Thukar (Mount Poonamallee High) (Gemini Ganes is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. Overall, from 2007 to 2024, the value has increased by 85%.

What are the stamp duty rates for properties in Park Thukar?

The stamp duty for properties in Park Thukar is charged at a rate of 7% on the higher of the guideline value or the sale price. For example, on a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.

Where can I find the Sub Registrar Office for Park Thukar?

The Sub Registrar Office for Park Thukar 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.

What is the land classification for Park Thukar?

Park Thukar falls under the Residential Class I Type - I land classification, which indicates its suitability for residential development.