Guideline Value for POONAMALLEE FARMS PHASE - II

Poonamallee Farms Phase - II guideline value

The current guideline value of Poonamallee Farms Phase - II is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Cheranancheri village under the Avadi SRO, classified as Residential Special Type - II.

How the guideline value of Poonamallee Farms Phase - II has changed

The guideline value for Poonamallee Farms Phase - II has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is an increase from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision also recorded the value at Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2024, there has been an overall increase of 10% in the guideline value. The change from 2023 to 2024 reflects a 10% increase, while there was no change from 2017 to 2023.

Guideline values in Cheranancheri

In Cheranancheri, there are 31 streets under the Avadi SRO, with guideline values ranging from Rs 274 to Rs 3,000 per sq.ft. The median guideline value in this area is Rs 1,540 per sq.ft, placing Poonamallee Farms Phase - II's 2024 figure below that median.

• Poonamallee Farms: Rs 1,320 per sq.ft (2024)
• Poonamallee Farms Phase - II Extension: Rs 1,320 per sq.ft (2024)
• Silver Fields By Urban Tree: Rs 1,375 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar Phase-I: Rs 330 per sq.ft (2024)
• Mangalya City: Rs 2,400 per sq.ft (2024)
• Sri Mookambikai Nagar Apple City: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamallee Farms Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Poonamallee Farms Phase - II?

Poonamallee Farms Phase - II falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Cheranancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted fairly and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Poonamallee Farms Phase - II?

The current guideline value of Poonamallee Farms Phase - II 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 increased from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. There was no change from 2017 to 2023, with the 2017 figure also being Rs 1,200 per sq.ft.

What is the land classification for Poonamallee Farms Phase - II?

Poonamallee Farms Phase - II is classified as Residential Special Type - II, which indicates its suitability for residential development.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Poonamallee Farms Phase - II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.