Guideline Value for POONGA NAGAR

Poonga Nagar guideline value

The current guideline value of Poonga Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Tiruttani village under the Thiruttani SRO, classified as Residential Class V Type - I.

How the guideline value of Poonga Nagar has changed

The guideline value for Poonga Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 335 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a guideline value for 2024, ranging from Rs 548 to Rs 1,540 per sq.ft, with a median value of Rs 825 per sq.ft. Poonga Nagar's guideline value is below this median.

• Pudhu Vannarapettai: Rs 550 per sq.ft (2024)
• Pudur: Rs 548 per sq.ft (2024)
• Pudur Medu: Rs 550 per sq.ft (2024)
• P.M.S.Nagar: Rs 550 per sq.ft (2024)
• Railway Quarters: Rs 1,099 per sq.ft (2024)
• Rajaji Street ( T V Malai): Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Poonga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poonga Nagar?

The Sub Registrar Office that covers Poonga Nagar is the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Tiruttani. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is considered along with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Poonga Nagar?

The current guideline value of Poonga Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From 2023 to 2024, the guideline value increased by 10%, from Rs 500 per sq.ft to Rs 550 per sq.ft. Overall, from 2017 to 2024, the increase is 64%.

What is the land classification of Poonga Nagar?

Poonga Nagar is classified as Residential Class V Type - I, indicating its use for residential purposes under the relevant regulations.

Where can I find the Sub Registrar Office for Poonga Nagar?

The Thiruttani Sub Registrar Office covers Poonga Nagar, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

How is the stamp duty calculated for properties in Poonga Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 5,50,000, leading to a stamp duty of Rs 38,500.