Guideline Value for POOMBAVAIYAR STREET (WARD -7)

Poombavaiyar Street (Ward -7) guideline value

The current guideline value of Poombavaiyar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Poombavaiyar Street (Ward -7) has changed

The guideline value for Poombavaiyar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value across these streets is Rs 1,100 per sq.ft, placing Poombavaiyar Street's 2024 figure above this median.

• Poongundranar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Popayar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Post Office Street (Ward -15): Rs 660 per sq.ft (2024)
• Ponmudiar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Poombavaiyar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, resulting in a total of Rs 1,18,890. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poombavaiyar Street (Ward -7)?

The Sub Registrar Office that covers Poombavaiyar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Ninna Karai, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Poombavaiyar Street?

The current guideline value of Poombavaiyar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024. The value decreased from Rs 1,200 in 2012 to Rs 804 in 2017 before increasing again.

What is the land classification for Poombavaiyar Street?

Poombavaiyar Street is classified as Residential Special Type - V, which indicates its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Poombavaiyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000, leading to a stamp duty of Rs 92,470.