Guideline Value for POONAMALLE HIGH WAY

Poonamalle High Way guideline value

The current guideline value of Poonamalle High Way is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Sivabootham village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Poonamalle High Way has changed

The guideline value for Poonamalle High Way has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,010 per sq.ft. However, the value increased significantly to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Sivabootham

Sivabootham village has 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,120 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Poonamalle High Way's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Pilliyar Koil Street: Rs 1,650 per sq.ft (2024)
• Pilliyar Koil 1st Street: Rs 1,650 per sq.ft (2024)
• Perumal Koil Stree: Rs 1,650 per sq.ft (2024)
• Perumal Koil 3rd Stree: Rs 1,650 per sq.ft (2024)
• Perumal Koil 2nd Stree: Rs 1,650 per sq.ft (2024)
• Perumal Koil 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamalle High Way

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Way?

The Sub Registrar Office that covers Poonamalle High Way is 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sivabootham. It determines the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When registering a property, the guideline value serves as a benchmark for assessing the transaction's value. It is essential for both parties to understand how this value impacts the financial aspects of the property transfer.

Frequently asked questions

What is the current guideline value of Poonamalle High Way?

The current guideline value of Poonamalle High Way is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the other streets in Sivabootham with their guideline values?

Other streets in Sivabootham include Pilliyar Koil Street, Pilliyar Koil 1st Street, and several others, all with a guideline value of Rs 1,650 per sq.ft for 2024.

Where is the Sub Registrar Office for Poonamalle High Way located?

The Sub Registrar Office for Poonamalle High Way 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 property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.