Guideline Value for POOMAGAL 2ND ROAD (STREET)

Poomagal 2nd Road (Street) guideline value

The current guideline value of Poomagal 2nd Road (Street) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Poomagal 2nd Road (Street) has changed

The guideline value for Poomagal 2nd Road (Street) has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was a decrease of 33% from the previous figure of Rs 3,350 per sq.ft in 2017. The 2023 revision increased the value to Rs 5,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value from Rs 3,350 per sq.ft to Rs 5,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, reflecting the changes in the real estate landscape. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Poomagal 2nd Road (Street) above this median with its current value of Rs 5,500 per sq.ft.

• Poomagal 1st Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 3rd Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 4th Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 5th Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal Main Rd: Rs 5,500 per sq.ft (2024)
• Poomagal Road (Street): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Poomagal 2nd Road (Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Poomagal 2nd Road (Street)?

Poomagal 2nd Road (Street) falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is an important factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you approach the Sub Registrar Office for registration, the guideline value will be assessed to calculate the applicable fees. This ensures that both buyers and sellers are aware of the financial implications of their property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Poomagal 2nd Road (Street)?

The current guideline value of Poomagal 2nd Road (Street) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, a 10% increase. It was Rs 3,350 per sq.ft in 2017, which increased by 49% to Rs 5,000 per sq.ft in 2023.

What is the land classification of Poomagal 2nd Road (Street)?

Poomagal 2nd Road (Street) is classified as Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Poomagal 2nd Road (Street)?

The Sub Registrar Office covering Poomagal 2nd Road (Street) 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 Poomagal 2nd Road (Street)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.