Guideline Value for POONGANVA PURAM

Poonganva Puram guideline value

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

How the guideline value of Poonganva Puram has changed

The guideline value for Poonganva Puram has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023 and is now Rs 2,150 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. The overall change from 2007 to 2024 is an increase of 330%, reflecting significant fluctuations in the guideline value over the years.

Guideline values in Thiruvottiyur

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

• Poonga Nagar: 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 Poonganva Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total cost to Rs 1,93,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poonganva Puram?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the property transfer. This helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Poonganva Puram?

The current guideline value of Poonganva Puram 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 significantly, from Rs 500 per sq.ft in 2007 to Rs 2,150 per sq.ft in 2024, reflecting an overall increase of 330% over the years.

What is the land classification for Poonganva Puram?

Poonganva Puram is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How is the stamp duty calculated for properties in Poonganva Puram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total cost of Rs 1,93,500 in stamp duty and registration fees.