Guideline Value for POONAMALLE HIGH ROAD

Poonamalle High Road guideline value

The current guideline value of Poonamalle High Road in Nerkundram village, under the Virugambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Special Type - I.

How the guideline value of Poonamalle High Road has changed

The guideline value for Poonamalle High Road has seen significant changes over the years. In 2002, the value was Rs 433 per sq.ft, which increased to Rs 750 per sq.ft in 2003, marking a 73% rise. By 2007, the value had risen to Rs 900 per sq.ft, a 20% increase. The 2012 revision saw a notable jump to Rs 5,000 per sq.ft, reflecting a 456% increase. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017, which represented a 33% decline. The value then rose to Rs 5,000 per sq.ft in 2023, and most recently, it increased to Rs 5,500 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1170%. There are no figures available for revisions other than those listed above for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Poonamalle High Road's 2024 figure above the median.

• Poonthamalli Road Mogappair Road: Rs 5,500 per sq.ft (2024)
• Praveena Nagar: Rs 2,750 per sq.ft (2024)
• PIDARI SELLIAMMAN KOIL Street: Rs 2,200 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Periyar High Road: Rs 5,500 per sq.ft (2024)
• PEOPLE FLATS (P.H.Road): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamalle High Road

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, charged at 7%, would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonamalle High Road?

The Sub Registrar Office that covers Poonamalle High Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property based on government assessments. This value is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Poonamalle High Road?

The current guideline value of Poonamalle High Road 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 significantly from Rs 433 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1170% over this period.

What is the land classification for Poonamalle High Road?

Poonamalle High Road is classified as Commercial Special Type - I, which indicates its intended use for commercial activities.

Where can I find the Sub Registrar Office for Poonamalle High Road?

The Sub Registrar Office for Poonamalle High Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Nerkundram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 55,00,000, the stamp duty is calculated at 7% of this amount.