Guideline Value for Pooja Avenue

Pooja Avenue guideline value

The current guideline value of Pooja Avenue in Manancheri village, under the Kunrathur SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Pooja Avenue has changed

The guideline value for Pooja Avenue has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The 2023 revision set the value at Rs 1,200 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,320 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, the guideline value increased by 380%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. The 2023 to 2024 revision reflects a 10% increase, resulting in an overall increase of 428% from the 2007 figure to the 2024 figure.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, positioning Pooja Avenue above this median.

• Ponni Nagar: Rs 990 per sq.ft (2024)
• Pilliyar koil Street: Rs 1,100 per sq.ft (2024)
• Pilliyar koil Sandhu: Rs 990 per sq.ft (2024)
• Perumal koil Street: Rs 1,100 per sq.ft (2024)
• RajaGanapathi Nagar: Rs 990 per sq.ft (2024)
• Parvathy Enclave: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pooja Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total cost of Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pooja Avenue?

The Sub Registrar Office covering Pooja Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Manancheri. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall costs involved in the transaction, including stamp duty and registration fees. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Pooja Avenue?

The current guideline value of Pooja Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 428% over this period.

What is the land classification of Pooja Avenue?

Pooja Avenue is classified as Residential Special Type - I.

Where can I find the registration office for Pooja Avenue?

The registration office for Pooja Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Pooja Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 92,400.