Guideline Value for Pompozhil Nager Magizhambu Street

Pompozhil Nager Magizhambu Street guideline value

The current guideline value of Pompozhil Nager Magizhambu Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Pompozhil Nager Magizhambu Street has changed

The guideline value for Pompozhil Nager Magizhambu Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, reflecting a 49% rise. The latest revision in 2024 has further raised the guideline value to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Pompozhil Nager Magizhambu Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 870 per sq.ft, and Pompozhil Nager Magizhambu Street's value of Rs 1,100 per sq.ft is above this median.

• Pompozhil Nager Kuranchi Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager malligai Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Krishna Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Mullai Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Kothavari Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Narmathi Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pompozhil Nager Magizhambu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 precise calculations.

Which Sub Registrar Office covers Pompozhil Nager Magizhambu Street?

The Sub Registrar Office that covers Pompozhil Nager Magizhambu Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Pompozhil Nager Magizhambu Street?

The current guideline value of Pompozhil Nager Magizhambu Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Pompozhil Nager Magizhambu Street?

The land classification for Pompozhil Nager Magizhambu Street is Residential Class I Type - I.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Pompozhil Nager Magizhambu Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.