Guideline Value for POONAMALLEE HIGH ROAD 1ST LANE

Poonamallee High Road 1st Lane guideline value

The current guideline value of Poonamallee High Road 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Poonamallee High Road 1st Lane has changed

The guideline value for Poonamallee High Road 1st Lane has seen several revisions over the years. In 2007, the value was Rs 16,500 per sq.ft, which then decreased to Rs 12,000 per sq.ft in 2012, marking a decline of 27%. The value further dropped to Rs 8,040 per sq.ft in 2017, a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 12,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 13,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has decreased by 20%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, and the guideline value for Poonamallee High Road 1st Lane is above this median.

• Poonamallee High Road 2nd Lane: Rs 13,200 per sq.ft (2024)
• Poonamallee High Road (A) E.V.R Periyar High Road: Rs 18,100 per sq.ft (2024)
• Poonamallee High Road Lane (A) E.V.R Periyar Lane: Rs 13,200 per sq.ft (2024)
• Ponniyamman Street: Rs 4,900 per sq.ft (2024)
• Potters Street: Rs 4,900 per sq.ft (2024)
• Ponniyamman 2nd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamallee High Road 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that 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 Poonamallee High Road 1st Lane?

The Sub Registrar Office that covers Poonamallee High Road 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Poonamallee High Road 1st Lane?

The current guideline value of Poonamallee High Road 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 16,500 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall decrease of 20%. The most recent increase was from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024.

What is the land classification for Poonamallee High Road 1st Lane?

The land classification for Poonamallee High Road 1st Lane is Residential Special Type - I.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How do I calculate the stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 13,200 per sq.ft, the total guideline value is Rs 1,32,00,000, leading to specific calculations for stamp duty and registration fees.