Guideline Value for POONGA 3RD CROSS STREET

Poonga 3rd Cross Street guideline value

The current guideline value of Poonga 3rd Cross Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Poonga 3rd Cross Street has changed

Over the years, the guideline value of Poonga 3rd Cross Street has seen several revisions. The earliest recorded revision was in 2012, with a guideline value of Rs 1,700 per sq.ft. This was followed by a decrease to Rs 1,139 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,870 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no recorded figures for this street in the revisions of 2002, 2003, and 2007. Between the revisions, the 2017 to 2023 period saw a significant increase of 49%, while the overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the guideline value of Poonga 3rd Cross Street is below this median.

• Poonga 4th Cross Street: Rs 1,870 per sq.ft (2024)
• Poonga 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• Poonga 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Poonga Street: Rs 1,870 per sq.ft (2024)
• Ponniamman Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Poonga 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonga 3rd Cross Street?

The Sub Registrar Office covering Poonga 3rd Cross Street 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 Medavakkam

The guideline value is a crucial factor during the registration of property transactions in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Poonga 3rd Cross Street?

The current guideline value of Poonga 3rd Cross Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2023 to Rs 1,870 per sq.ft in 2024. It was Rs 1,139 per sq.ft in 2017 and Rs 1,700 per sq.ft in 2012.

What is the median guideline value in Medavakkam?

The median guideline value in Medavakkam is Rs 2,200 per sq.ft, which is higher than the current guideline value of Poonga 3rd Cross Street.

What are the stamp duty rates for property in Poonga 3rd Cross Street?

The stamp duty rate for property transactions in Poonga 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Poonga 3rd Cross Street located?

The Sub Registrar Office for Poonga 3rd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.