Guideline Value for POONAMALLEE ROAD(120 FEET ROAD WEST SIDE)

Poonamallee Road(120 Feet Road West Side) guideline value

The current guideline value for Poonamallee Road(120 Feet Road West Side) is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Poonamallee Road(120 Feet Road West Side) has changed

The guideline value for Poonamallee Road(120 Feet Road West Side) has seen significant changes over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 607 per sq.ft. This increased to Rs 700 per sq.ft in 2003, followed by a rise to Rs 1,000 per sq.ft in 2007, marking a 43% increase. In 2012, the value rose to Rs 7,500 per sq.ft, reflecting a substantial 650% increase from the previous revision. However, in 2017, it dropped to Rs 5,025 per sq.ft, a decrease of 33%. The value then climbed to Rs 7,500 per sq.ft in 2023, before reaching its current figure of Rs 8,250 per sq.ft in 2024, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 1259%. There are no revisions for this street in the years not mentioned above.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Poonamallee Road(120 Feet Road West Side) above this median.

• Poomagal Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal Main Rd: Rs 5,500 per sq.ft (2024)
• Poomagal 5th Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 4th Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 3rd Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 2nd Road (Street): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamallee Road(120 Feet Road West Side)

For a 1,000 sq.ft plot at the current rate of Rs 8,250 per sq.ft, the guideline value amounts to Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, totaling Rs 7,42,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poonamallee Road(120 Feet Road West Side)?

The Sub Registrar Office that covers Poonamallee Road(120 Feet Road West Side) 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 here.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Poonamallee Road(120 Feet Road West Side)?

The current guideline value for Poonamallee Road(120 Feet Road West Side) is Rs 8,250 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 607 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, marking an overall increase of 1259%.

What are the stamp duty and registration fees for property on this road?

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500, and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500.

Which Sub Registrar Office handles registrations for this area?

The Chennai South Joint I Sub Registrar Office handles registrations for Poonamallee Road(120 Feet Road West Side), located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the guideline value determined for properties in Ekkaduthangal?

The guideline value is determined based on various factors, including land classification and the historical changes in property values over the years, ensuring a standardized approach to property registration in Ekkaduthangal.