Guideline Value for POONAMALLEE HIGH ROAD LANE (A) E.V.R PERIYAR LANE

Poonamallee High Road Lane (A) E.V.R Periyar Lane guideline value

The current guideline value of Poonamallee High Road Lane (A) E.V.R Periyar 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 Lane (A) E.V.R Periyar Lane has changed

The guideline value for Poonamallee High Road Lane (A) E.V.R Periyar Lane has seen several revisions over the years. In 2007, the value was Rs 16,500 per sq.ft, which decreased to Rs 12,000 per sq.ft in 2012, marking a decline of 27%. The value then dropped further 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, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 13,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, 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, with a median value of Rs 5,500 per sq.ft. The guideline value of Rs 13,200 per sq.ft for Poonamallee High Road Lane (A) E.V.R Periyar Lane is above this median.

• Poonamallee High Road (A) E.V.R Periyar High Road: Rs 18,100 per sq.ft (2024)
• Poonamallee High Road 2nd Lane: Rs 13,200 per sq.ft (2024)
• Poonamallee High Road 1st 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 Lane (A) E.V.R Periyar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total 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, 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 Lane (A) E.V.R Periyar Lane?

The Sub Registrar Office that covers Poonamallee High Road Lane (A) E.V.R Periyar 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 plays a crucial role during the registration of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the registration process.

When purchasing property, the guideline value is often used as a benchmark to assess the minimum value for taxation purposes. This ensures that the government collects the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value for Poonamallee High Road Lane (A) E.V.R Periyar Lane?

The current guideline value for Poonamallee High Road Lane (A) E.V.R Periyar 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 significantly from Rs 16,500 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall decrease of 20% over this period.

What factors influence the guideline value?

The guideline value is influenced by various factors, including land classification, location, and previous revision figures. Each revision reflects the changing market conditions and property values in the area.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles property registrations in the Purasaivakkam area.

How is stamp duty calculated for properties in Purasaivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty in the area is 7%, and the registration fee is 2% of the guideline value.