Guideline Value for POONAMALLEE FARMS

Poonamallee Farms guideline value

The current guideline value of Poonamallee Farms in Cheranancheri village is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Avadi Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Poonamallee Farms has changed

The guideline value for Poonamallee Farms has seen several revisions over the years. The earliest recorded figure was Rs 1,200 per sq.ft in 2012, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Cheranancheri

In Cheranancheri, there are 31 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 274 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Poonamallee Farms below this median.

• Poonamallee Farms Phase - II: 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

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, while 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonamallee Farms?

The Poonamallee Farms area is covered by 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

When buying or selling property in Cheranancheri, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the property’s worth, ensuring that the fees are calculated based on an official valuation rather than the sale price alone.

During the registration process, the buyer must pay the applicable stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher. This ensures a standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Poonamallee Farms?

The current guideline value of Poonamallee Farms 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 changed several times, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, then rising 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 Poonamallee Farms?

Poonamallee Farms is classified as Residential Special Type - II, which indicates its intended use for residential purposes within the area.

Where can I find the registration office for Poonamallee Farms?

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

How is the stamp duty calculated for properties in Poonamallee Farms?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be calculated accordingly.