Guideline Value for POONMUTHU NAGAR

Poonmuthu Nagar guideline value

The current guideline value of Poonmuthu Nagar is Rs 1,260 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 III Type - III.

How the guideline value of Poonmuthu Nagar has changed

Looking at the revisions, the guideline value for Poonmuthu Nagar was Rs 1,139 per sq.ft in 2023 and has increased to Rs 1,260 per sq.ft in 2024, marking an increase of 11%. The previous revision in 2017 also recorded Rs 1,139 per sq.ft, indicating no change from 2017 to 2023. The register has no figure for this street in the years 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 11%. This consistent upward trend reflects the adjustments made in the recent years, particularly the significant change from 2023 to 2024.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median value for this area is Rs 1,650 per sq.ft, which means that Poonmuthu Nagar's current guideline value is below this median.

• Pooniamman Nagar: Rs 990 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 Poonmuthu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,260 per sq.ft, the total guideline value amounts to Rs 12,60,000. The stamp duty at 7% would be Rs 88,200, and the registration fee at 2% would be Rs 25,200, bringing the total to Rs 1,13,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonmuthu Nagar?

Poonmuthu 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 more information.

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

The guideline value is a crucial factor in property transactions in Kolathuvancheri. It serves as the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable stamp duty, which is calculated based on the higher of the guideline value or the actual sale price. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Poonmuthu Nagar?

The current guideline value of Poonmuthu Nagar is Rs 1,260 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,139 per sq.ft in 2023 to Rs 1,260 per sq.ft in 2024, marking an 11% increase. There was no change from 2017 to 2023, as the value remained Rs 1,139 per sq.ft during that period.

What is the land classification for Poonmuthu Nagar?

Poonmuthu Nagar is classified as Residential Class III Type - III. This classification impacts the guideline value and usage of the land.

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

The Sub Registrar Office for Poonmuthu Nagar is 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.

How is stamp duty calculated for properties in Poonmuthu Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 12,60,000, the stamp duty would be Rs 88,200 at 7%.