Guideline Value for Pommuliyer Street

Pommuliyer Street guideline value

The current guideline value of Pommuliyer Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Pommuliyer Street has changed

The guideline value for Pommuliyer Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in the 2017 revision. The value then rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as per the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision saw a further increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which is equal to the current figure for Pommuliyer Street.

• Ponnappa Chetty Lane: Rs 5,500 per sq.ft (2024)
• Ponnappa Chetty Street: Rs 5,500 per sq.ft (2024)
• Ponniamman Koil Street: Rs 3,800 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Pidariyar Kovil Street: Rs 8,800 per sq.ft (2024)
• Pidariyar Kovil Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Pommuliyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 detailed calculations.

Which Sub Registrar Office covers Pommuliyer Street?

The Sub Registrar Office that covers Pommuliyer Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Muthiyalpet. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects the current market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both parties in a transaction are aware of the financial implications related to the registration process.

Frequently asked questions

What is the current guideline value of Pommuliyer Street?

The current guideline value of Pommuliyer Street is Rs 4,400 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What is the land classification for Pommuliyer Street?

Pommuliyer Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Pommuliyer Street?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 3,96,000 in fees.

Where is the Sub Registrar Office for Pommuliyer Street located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and it covers Pommuliyer Street.