Guideline Value for POORNIMA GARDEN

Poornima Garden guideline value

The current guideline value of Poornima Garden in Enjambakkam village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Poornima Garden has changed

The guideline value for Poornima Garden has seen significant changes over the years. In 2003, the value was Rs 84 per sq.ft, which increased dramatically to Rs 500 per sq.ft in 2007. Following this, the value rose to Rs 3,000 per sq.ft in 2012, before decreasing to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The most notable change occurred from 2007 to 2012, where the value surged by 500%. Overall, from 2003 to 2024, the guideline value has increased by 3829%. The register has no figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Poornima Garden above the median.

• Pothigai Street: Rs 1,700 per sq.ft (2024)
• Prabala Nagar: Rs 2,200 per sq.ft (2024)
• Poombukar Street (Vettuvankeni): Rs 2,200 per sq.ft (2024)
• Poombukar Nagar (Vettuvankeni): Rs 2,200 per sq.ft (2024)
• POOMBUKAR 4th STREET: Rs 2,200 per sq.ft (2024)
• POOMBUKAR 3rd STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Poornima Garden

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to 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 details.

Which Sub Registrar Office covers Poornima Garden?

The Neelankarai Sub Registrar Office covers Poornima Garden. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, which is used by the government to calculate applicable taxes. Buyers should be aware of the guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Poornima Garden?

The current guideline value of Poornima Garden 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 from Rs 84 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with significant fluctuations in between, including a peak of Rs 3,000 per sq.ft in 2012 and a drop to Rs 2,010 per sq.ft in 2017.

What is the classification of land in Poornima Garden?

Poornima Garden is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Poornima Garden?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Poornima Garden?

The Neelankarai Sub Registrar Office, which covers Poornima Garden, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.