Guideline Value for POONIAMMAN NAGAR

Pooniamman Nagar guideline value

The current guideline value of Pooniamman Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Pooniamman Nagar has changed

The guideline value for Pooniamman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the current 2024 revision has further increased it to Rs 990 per sq.ft, reflecting a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, 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 Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, positioning Pooniamman Nagar's 2024 figure below that median.

• Poonmuthu Nagar: Rs 1,260 per sq.ft (2024)
• Ponniyamman Nagar 2nd Street: Rs 990 per sq.ft (2024)
• Ponniyamman Nagar 1st Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Ist Colony: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street Cross Street: Rs 990 per sq.ft (2024)
• Ponniamman Koil Street 3rd Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Pooniamman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 990 per sq.ft, the guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pooniamman Nagar?

Pooniamman Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property registration in Kolathuvancheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which the property can be registered. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Pooniamman Nagar?

The current guideline value of Pooniamman Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 in 2012 to Rs 603 in 2017, then back to Rs 900 in 2023, and currently to Rs 990 in 2024. This reflects various increases and decreases over the years.

What are the other streets in Kolathuvancheri with guideline values?

Other streets in Kolathuvancheri include Poonmuthu Nagar at Rs 1,260 per sq.ft, Ponniyamman Nagar 2nd Street at Rs 990 per sq.ft, and several others, all listed under the Chennai South Joint I SRO.

How is stamp duty calculated in Pooniamman Nagar?

Stamp duty in Pooniamman Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 9,90,000 would incur a stamp duty of Rs 69,300 at 7%.

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

The Sub Registrar Office covering Pooniamman Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details through the provided link.