Guideline Value for Poombugar Nagar

Poombugar Nagar guideline value

The current guideline value of Poombugar Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Palavayal village and falls under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Poombugar Nagar has changed

The guideline value for Poombugar Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 268 per sq.ft, which increased to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision reflects a further increase to Rs 440 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,200 per sq.ft. The median value is Rs 440 per sq.ft, which is the same as Poombugar Nagar's current figure.

• Pillaiyar Koil Street: Rs 440 per sq.ft (2024)
• Raghavan Nagar: Rs 440 per sq.ft (2024)
• Painthamil Nagar: Rs 440 per sq.ft (2024)
• New Sun Garden Phase - I: Rs 440 per sq.ft (2024)
• New Star City-III: Rs 700 per sq.ft (2024)
• New Star City-II: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Poombugar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the 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 Poombugar Nagar?

The Sub Registrar Office that covers Poombugar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Palavayal. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that the guideline value is a reference point for the official valuation of the property.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. It helps in maintaining transparency in property dealings and ensures that the correct taxes are levied based on the property's value.

Frequently asked questions

What is the current guideline value of Poombugar Nagar?

The current guideline value of Poombugar Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Poombugar Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles registrations for Poombugar Nagar?

The Redhills Sub Registrar Office handles registrations for Poombugar Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the correct taxes are levied based on the property's value.