Guideline Value for POOMBAVAIYAR STREET (WARD -7)

Poombavaiyar Street (Ward -7) guideline value

The current guideline value of Poombavaiyar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam 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

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased by 33% to Rs 804 per sq.ft. The value saw a significant increase in the following revisions, with the 2023 revision marking a rise to Rs 1,200 per sq.ft, and a further increase of 10% to Rs 1,320 per sq.ft in the 2024 revision.

From the 2017 revision to 2023, the guideline 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 Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Poombavaiyar Street's 2024 figure above that median.

• Poongundranar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Popayar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Post Office Street (Ward -15): Rs 440 per sq.ft (2024)
• Ponmudiar Street (Ward -6): Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 more information.

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Poombavaiyar Street (Ward -7)?

The current guideline value of Poombavaiyar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,320 per sq.ft in 2024.

What is the land classification for Poombavaiyar Street?

The land classification for Poombavaiyar Street is Residential Special Type - V.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is generally 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for Poombavaiyar Street located?

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