Guideline Value for POONGA NAGAR

Poonga Nagar guideline value

The current guideline value of Poonga Nagar, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Poonga Nagar has changed

The guideline value for Poonga Nagar has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,150 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 438%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Poonga Nagar is below this median.

• Poonganva Puram: Rs 2,150 per sq.ft (2024)
• Poonthottam Lane: Rs 3,300 per sq.ft (2024)
• Poompugar Nagar: Rs 1,500 per sq.ft (2024)
• Ponniyamman Nagar: Rs 1,500 per sq.ft (2024)
• Pudhiya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Radhakrishnan Avenue: Rs 1,300 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 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, while the registration fee at 2% would be Rs 43,000. Together, these fees would total Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonga Nagar?

The Sub Registrar Office that covers Poonga Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Poonga Nagar?

The current guideline value of Poonga Nagar is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,150 per sq.ft in 2024, reflecting an overall increase of 438% over this period.

What is the registration fee for property in Poonga Nagar?

The registration fee for property in Poonga Nagar is calculated based on the guideline value, which is currently Rs 2,150 per sq.ft. The fee is typically 2% of the total guideline value.

Where is the Sub Registrar Office located for Poonga Nagar?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What other streets have guideline values in Thiruvottiyur?

Other streets in Thiruvottiyur include Poonganva Puram, Poonthottam Lane, Poompugar Nagar, Ponniyamman Nagar, Pudhiya Kinaru Street, and Radhakrishnan Avenue, each with their respective guideline values.