Guideline Value for POONGA 4TH CROSS STREET

Poonga 4th Cross Street guideline value

The current guideline value of Poonga 4th 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 4th Cross Street has changed

The guideline value for Poonga 4th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 1,700 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,139 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,700 per sq.ft. The most recent revision in 2024 established the current guideline value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 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, placing Poonga 4th Cross Street's 2024 figure below that median.

• Poonga 3rd 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 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,870 per sq.ft, the 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, totaling Rs 1,68,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonga 4th Cross Street?

The Sub Registrar Office that covers Poonga 4th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately. This helps in maintaining transparency in property dealings and protects the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Poonga 4th Cross Street?

The current guideline value of Poonga 4th 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 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the land classification for Poonga 4th Cross Street?

The land classification for Poonga 4th Cross Street is Residential Class III Type - I.

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 4th Cross Street.

Where can I find the Sub Registrar Office for Poonga 4th Cross Street?

The Sub Registrar Office for Poonga 4th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.