Guideline Value for POOVAI ROAD 3RD CROSS STREET

Poovai Road 3rd Cross Street guideline value

The current guideline value of Poovai Road 3rd Cross Street is Rs 2,610 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village, under the jurisdiction of the Avadi SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Poovai Road 3rd Cross Street has changed

The guideline value for Poovai Road 3rd Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 341 per sq.ft. It increased to Rs 392 per sq.ft in 2003, marking a 15% rise. The value further increased to Rs 500 per sq.ft in 2007, reflecting a 28% change. The 2012 revision set the value at Rs 1,750 per sq.ft, which was a significant increase of 250%. However, the 2017 revision saw a decrease to Rs 1,172 per sq.ft, a drop of 33%. The value then rose to Rs 2,400 per sq.ft in the 2023 revision, showing a substantial increase of 105%. The latest revision in 2024 has set the value at Rs 2,610 per sq.ft, which is a 9% increase from the previous year.

There are no figures for revisions in years other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 665%.

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 for these streets is Rs 1,625 per sq.ft, placing the 2024 figure for Poovai Road 3rd Cross Street above this median.

• Poovai Road 1st Cross Street: Rs 2,610 per sq.ft (2024)
• Poovai Road 2nd 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 3rd 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 amounts to Rs 26,10,000. The stamp duty at 7% would be Rs 1,82,700, and the registration fee at 2% would be Rs 52,200. Together, the total cost for stamp duty and registration fee would be Rs 2,34,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poovai Road 3rd Cross Street?

The Sub Registrar Office that covers Poovai Road 3rd Cross Street is the Avadi Sub Registrar Office. The address is 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 crucial factor in the registration process when buying or selling property in Paruthipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the current market conditions reflected in the guideline value.

Frequently asked questions

What is the current guideline value of Poovai Road 3rd Cross Street?

The current guideline value of Poovai Road 3rd Cross Street is Rs 2,610 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What is the land classification for Poovai Road 3rd Cross Street?

Poovai Road 3rd Cross Street is classified as Commercial Class I Type - II.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 26,10,000. The stamp duty at 7% is Rs 1,82,700, and the registration fee at 2% is Rs 52,200, totaling Rs 2,34,900.

Which office handles the registration for Poovai Road 3rd Cross Street?

The Avadi Sub Registrar Office handles the registration for Poovai Road 3rd Cross Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.