Guideline Value for POONAMALLEE HIGH ROAD

Poonamallee High Road guideline value

The current guideline value of Poonamallee High Road in Vanagaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Poonamallee High Road has changed

The guideline value for Poonamallee High Road has undergone several revisions over the years. In 2002, the value was Rs 91 per sq.ft, which increased to Rs 417 per sq.ft in 2003, marking a significant rise of 358%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2007, representing a 188% growth. Following this, the value rose to Rs 3,000 per sq.ft in 2012, indicating a 150% increase. However, there was a decline to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 3,526%. The register does not have figures for any other years for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value of Poonamallee High Road is above this median.

• Porur Garden 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 1st Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 2nd Street: Rs 2,420 per sq.ft (2024)
• Porur Garden 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 3rd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamallee High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonamallee High Road?

The Sub Registrar Office covering Poonamallee High Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions within the area.

Frequently asked questions

What is the current guideline value of Poonamallee High Road?

The current guideline value of Poonamallee High Road is Rs 3,300 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 91 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 3,526% over the years.

What is the registration office for Poonamallee High Road?

The registration office for Poonamallee High Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty rates for properties in Poonamallee High Road?

The stamp duty for properties in Poonamallee High Road is charged at 7% of the guideline value or the sale price, whichever is higher.

What is the median guideline value in Vanagaram?

The median guideline value in Vanagaram is Rs 1,660 per sq.ft, with Poonamallee High Road's guideline value being above this median.