Guideline Value for Pookkara Street

Pookkara Street guideline value

The current guideline value of Pookkara Street in Nanganallur village is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of Pookkara Street has changed

The guideline value for Pookkara Street has seen several revisions over the years. In 2002, the guideline value was Rs 319 per sq.ft, which increased to Rs 363 per sq.ft in 2003, marking a 14% rise. The value then continued to rise significantly, reaching Rs 700 per sq.ft in 2007, an increase of 93%. In 2012, the value was Rs 3,500 per sq.ft, resulting in a substantial 400% increase from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. However, it rebounded to Rs 3,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,123%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Pookkara Street.

• Poonthottam 1st Street: Rs 5,500 per sq.ft (2024)
• Poonthottam 2nd Street: Rs 5,500 per sq.ft (2024)
• Poonthottam Colony Street: Rs 4,400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,800 per sq.ft (2024)
• Railway Lane: Rs 3,300 per sq.ft (2024)
• Rajaji 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pookkara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pookkara Street?

Pookkara Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Pookkara Street?

The current guideline value of Pookkara Street is Rs 3,900 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 319 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1,123%.

What is the stamp duty for property on Pookkara Street?

The stamp duty for property on Pookkara Street is calculated at 7% of the guideline value, which would be Rs 2,73,000 for a 1,000 sq.ft plot at the current rate.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Pookkara Street?

Pookkara Street is classified as Residential Class I Type - II under the Alandur SRO.