Guideline Value for Poomagal Main Rd

Poomagal Main Rd guideline value

The current guideline value of Poomagal Main Rd is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Poomagal Main Rd has changed

The guideline value for Poomagal Main Rd has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is a 10% increase. The changes between the revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Poomagal Main Rd's 2024 figure of Rs 5,500 per sq.ft is above this median.

• Poomagal 5th Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 4th Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 3rd Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 2nd Road (Street): Rs 5,500 per sq.ft (2024)
• Poomagal 1st Road (Street): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Poomagal Main Rd

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Poomagal Main Rd?

Poomagal Main Rd falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is used to assess the applicable duties, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Poomagal Main Rd?

The current guideline value of Poomagal Main Rd is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Poomagal Main Rd?

Poomagal Main Rd is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Poomagal Main Rd?

The Sub Registrar Office for Poomagal Main Rd is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Ekkaduthangal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.