Guideline Value for POONTHALEER STREET

Poonthaleer Street guideline value

The current guideline value of Poonthaleer Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Poonthaleer Street has changed

The guideline value for Poonthaleer Street has seen several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 871 per sq.ft before rising again to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, there was an increase of 767%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and remained unchanged from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Poonthaleer Street’s 2024 figure of Rs 1,300 per sq.ft is above this median.

• POONAMALLEE THIRUVALLUR SALAI (KOSASTHALAI RIVER OVERHEAD BRIDGE to NDP KALYANA MANDABAM): Rs 2,000 per sq.ft (2024)
• Ponnuswamy Naickar Street: Rs 1,300 per sq.ft (2024)
• Ponnappar Street: Rs 1,000 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,000 per sq.ft (2024)
• Phakirathi Amman Street: Rs 1,300 per sq.ft (2024)
• Ragavendra Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poonthaleer Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Poonthaleer Street?

Poonthaleer Street falls under the Manavalanagar Sub Registrar Office, located at Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. To locate your SRO, visit find your SRO.

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

The guideline value is a critical factor in property transactions in Vengathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The registration process requires that the property be valued according to the guideline value or the sale price, whichever is higher.

When registering a property, the buyer must ensure that the transaction reflects the guideline value to comply with legal requirements. This ensures transparency and accuracy in property dealings within the region.

Frequently asked questions

What is the current guideline value of Poonthaleer Street?

The current guideline value of Poonthaleer Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with significant revisions in 2007, 2012, 2017, 2023, and 2024. The most notable change was from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012.

What is the land classification of Poonthaleer Street?

Poonthaleer Street is classified as Commercial Class I Type - III, indicating its use for commercial purposes.

Where can I find the registration office for Poonthaleer Street?

The registration office for Poonthaleer Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for property in Vengathur?

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 13,00,000, the stamp duty would be Rs 91,000 at 7%.