Guideline Value for POOVAI ROAD 2ND CROSS STREET

Poovai Road 2nd Cross Street guideline value

The current guideline value of Poovai Road 2nd Cross Street is Rs 2,610 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village, under the Avadi SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Poovai Road 2nd Cross Street has changed

The guideline value for Poovai Road 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 341 per sq.ft, which increased to Rs 392 per sq.ft in 2003, marking a change of +15%. By 2007, the value rose significantly to Rs 500 per sq.ft, a change of +28%. The 2012 revision saw a decrease to Rs 1,750 per sq.ft, which was a drop of -33%. In 2017, the value increased to Rs 1,172 per sq.ft, and then it jumped to Rs 2,400 per sq.ft in 2023, reflecting a change of +105%. The current value of Rs 2,610 per sq.ft from the 2024 revision represents an increase of +9% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +665%. There are no figures available for the years not mentioned in this register for Poovai Road 2nd Cross Street.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,730 per sq.ft. The median value is Rs 1,625 per sq.ft, placing the guideline value of Poovai Road 2nd Cross Street above this median.

• Poovai Road 1st Cross Street: Rs 2,610 per sq.ft (2024)
• Poovai Road 3rd Cross Street: Rs 2,610 per sq.ft (2024)
• Poovai Road 4th Cross Street: Rs 2,610 per sq.ft (2024)
• Portin Home In M.R.Garden: Rs 950 per sq.ft (2024)
• Prakasam St: Rs 950 per sq.ft (2024)
• Prasath St: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Poovai Road 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,610 per sq.ft, the total guideline value would be Rs 26,10,000. The stamp duty at 7% would amount to Rs 1,82,700, while the registration fee at 2% would be Rs 52,200. Together, the total cost for stamp duty and registration would be Rs 2,34,900. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Poovai Road 2nd Cross Street?

The Sub Registrar Office that covers Poovai Road 2nd Cross Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Paruthipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Poovai Road 2nd Cross Street?

The current guideline value of Poovai Road 2nd Cross Street is Rs 2,610 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 341 per sq.ft in 2002 to Rs 2,610 per sq.ft in 2024, representing an overall increase of +665% over the years.

What is the land classification for Poovai Road 2nd Cross Street?

Poovai Road 2nd Cross Street is classified as Commercial Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 26,10,000, the stamp duty would be Rs 1,82,700 and the registration fee would be Rs 52,200, totaling Rs 2,34,900.

Which office handles the registration for properties on Poovai Road 2nd Cross Street?

The Avadi Sub Registrar Office handles the registration for properties on Poovai Road 2nd Cross Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.