Guideline Value for Poompugar Nagar Salai First Street

Poompugar Nagar Salai First Street guideline value

The current guideline value of Poompugar Nagar Salai First Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Poompugar Nagar Salai First Street has changed

The guideline value for Poompugar Nagar Salai First Street has experienced several revisions over the years. The earliest recorded figure is from 2002, which was Rs 342 per sq.ft. This value increased to Rs 371 per sq.ft in 2003, marking an 8% rise. In 2007, the value saw a significant jump to Rs 700 per sq.ft, which was a 89% increase. The trend continued with a remarkable increase to Rs 5,000 per sq.ft in 2012, reflecting a 614% rise. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017, which was a 33% drop. The value then rose to Rs 5,000 per sq.ft in 2023, a 49% increase, and finally reached Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

It is important to note that the register has no figure for this street for the years not listed above. The overall change from 2002 to 2024 indicates an increase of 1508% in the guideline value.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value in Konnur is Rs 3,800 per sq.ft, making the current guideline value of Poompugar Nagar Salai First Street above that median.

• Poompugar Nagar Kollathur: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar Extension Murugesan Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar: Rs 5,500 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 5,500 per sq.ft (2024)
• Puthar Street: Rs 3,800 per sq.ft (2024)
• Perumal Koil Street (Sannathi Street): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Poompugar Nagar Salai First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty, charged at 7%, would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Altogether, the total cost for stamp duty and registration fee would be Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poompugar Nagar Salai First Street?

The Sub Registrar Office that covers Poompugar Nagar Salai First Street is the Konnur Sub Registrar Office. The address is Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

At the time of registration, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Poompugar Nagar Salai First Street?

The current guideline value of Poompugar Nagar Salai First Street 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 significantly from Rs 342 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1508% over this period.

What are the stamp duty and registration fees for property in Poompugar Nagar Salai First Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 55,00,000, the total stamp duty and registration fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers Poompugar Nagar Salai First Street?

The Konnur Sub Registrar Office covers Poompugar Nagar Salai First Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value in Konnur?

The median guideline value in Konnur is Rs 3,800 per sq.ft, while the guideline value for Poompugar Nagar Salai First Street is above this median at Rs 5,500 per sq.ft.