Guideline Value for POONTHOTTAM LANE

Poonthottam Lane guideline value

The current guideline value of Poonthottam Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Poonthottam Lane has changed

The guideline value for Poonthottam Lane has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 382 per sq.ft. This figure increased to Rs 449 per sq.ft in 2003, marking an 18% rise. The value continued to climb, reaching Rs 600 per sq.ft in 2007, which was a significant increase of 34%. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, a remarkable jump of 400% from the previous figure. However, the 2017 revision brought the value down to Rs 2,010 per sq.ft, reflecting a decrease of 33%.

In the subsequent revisions, the guideline value increased again, with the 2023 revision setting it at Rs 3,000 per sq.ft, followed by the latest 2024 revision at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 764%.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Poonthottam Lane.

• Poonganva Puram: Rs 2,150 per sq.ft (2024)
• Poonga Nagar: Rs 2,150 per sq.ft (2024)
• Poompugar Nagar: Rs 1,500 per sq.ft (2024)
• Ponniyamman Nagar: Rs 1,500 per sq.ft (2024)
• Pudhiya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Radhakrishnan Avenue: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poonthottam Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty is charged at 7%, which amounts to Rs 2,31,000, and the registration fee is 2%, amounting to Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. Please 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 Poonthottam Lane?

The Sub Registrar Office that covers Poonthottam Lane 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 Thiruvottiyur

The guideline value plays a crucial role during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Poonthottam Lane?

The current guideline value of Poonthottam Lane is Rs 3,300 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 382 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024. There have been various increases and decreases over the years, with the overall increase being 764% from 2002 to 2024.

What is the land classification for Poonthottam Lane?

Poonthottam Lane is classified as Residential Special Type - I. This classification is important for determining the guideline value and other regulatory aspects of property transactions.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles property registrations for the area.

How is stamp duty calculated for properties in Poonthottam Lane?

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 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.