Guideline Value for POONAMALLEE HIGH ROAD 2ND LANE

Poonamallee High Road 2nd Lane guideline value

The current guideline value of Poonamallee High Road 2nd Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Special Type - I.

How the guideline value of Poonamallee High Road 2nd Lane has changed

The guideline value for Poonamallee High Road 2nd Lane has undergone several revisions over the years. The 2007 revision recorded a value of Rs 16,500 per sq.ft, which decreased to Rs 12,000 per sq.ft in 2012, marking a decline of 27%. This value further dropped to Rs 8,040 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The 2023 revision then saw a significant increase to Rs 12,000 per sq.ft, followed by another rise to Rs 13,200 per sq.ft in 2024, which is an increase of 10%.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has decreased by 20%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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 guideline value in this area is Rs 5,500 per sq.ft, placing Poonamallee High Road 2nd Lane above the median value.

• Poonamallee High Road 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Poonamallee High Road 2nd Lane?

The Sub Registrar Office that covers Poonamallee High Road 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the registration process reflects the true value of the property in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Poonamallee High Road 2nd Lane?

The current guideline value of Poonamallee High Road 2nd Lane is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has decreased overall by 20% to the current value. The most recent changes include an increase of 10% from the 2023 revision to the 2024 revision.

What is the land classification for Poonamallee High Road 2nd Lane?

Poonamallee High Road 2nd Lane is classified as Residential Special Type - I under the Purasaivakkam SRO.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Poonamallee High Road 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at a rate of 7%.