Guideline Value for POONGUNDRANAR STREET (WARD -7)

Poongundranar Street (Ward -7) guideline value

The current guideline value of Poongundranar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Poongundranar Street (Ward -7) has changed

Over the years, the guideline value of Poongundranar Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Poongundranar Street's 2024 figure above this median.

• Popayar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Post Office Street (Ward -15): Rs 440 per sq.ft (2024)
• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Poyyamozhi Pulan Street (Per): Rs 1,320 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Poongundranar Street (Ward -7)

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Poongundranar Street (Ward -7)?

The Sub Registrar Office that covers Poongundranar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration laws and to avoid any discrepancies during the transaction process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Poongundranar Street (Ward -7)?

The current guideline value of Poongundranar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification of Poongundranar Street?

Poongundranar Street is classified as Residential Special Type - V, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office registers properties in Panangottur?

The Chengleput Joint II Sub Registrar Office is responsible for registering properties in Panangottur, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.