Guideline Value for POONGAVANAM STREET

Poongavanam Street guideline value

The current guideline value of Poongavanam Street in Manali village, under the Thiruvottiyur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Poongavanam Street has changed

The guideline value for Poongavanam Street has seen several revisions over the years. Starting from Rs 90 per sq.ft in 2002, it increased to Rs 103 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 200 per sq.ft in 2007, reflecting a 94% increase. In 2012, the guideline value was Rs 1,100 per sq.ft, which was a substantial increase of 450% from the previous revision. However, the value dropped to Rs 737 per sq.ft in 2017, indicating a decrease of 33%. The value further increased to Rs 1,100 per sq.ft in 2023, followed by a rise to the current rate of Rs 1,200 per sq.ft in 2024, which represents a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1233%. The register has no figures for revisions in years other than those listed.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft. The median value is Rs 1,200 per sq.ft, which aligns with the current guideline value of Poongavanam Street.

• Poombukar Nagar: Rs 1,200 per sq.ft (2024)
• Ponneri High Road: Rs 1,005 per sq.ft (2024)
• P.R.K. Sharma Street: Rs 1,500 per sq.ft (2024)
• Raghavan Street: Rs 1,200 per sq.ft (2024)
• Perumal Koil Street: Rs 1,500 per sq.ft (2024)
• Periya Thoppu Selva Vinayagar Koil Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Poongavanam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, these fees would total Rs 1,08,000. 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 Poongavanam Street?

The Sub Registrar Office that covers Poongavanam Street 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 Manali

The guideline value is a crucial factor during the registration of property transactions in Manali. It serves as a reference point for determining the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately in the official registers. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Poongavanam Street?

The current guideline value of Poongavanam Street is Rs 1,200 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 90 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1233% over the years.

What is the land classification for Poongavanam Street?

Poongavanam Street is classified as Residential Special Type - II.

Where is the Thiruvottiyur Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, on a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total fees would be Rs 1,08,000.