Guideline Value for Poompugar Nagar

Poompugar Nagar guideline value

The current guideline value of Poompugar Nagar, located in Konnur village under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poompugar Nagar has changed

The guideline value for Poompugar Nagar has seen significant changes over the years. In 2002, the value was Rs 342 per sq.ft, which increased to Rs 371 per sq.ft in 2003, marking an 8% rise. The value then saw a substantial increase to Rs 800 per sq.ft in 2007, reflecting a 116% change. Following this, the value rose dramatically to Rs 5,000 per sq.ft in 2012, representing a 525% increase. However, it decreased to Rs 3,350 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, and finally, it reached Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1508%. There are no revisions with figures missing for this street in the register.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value across these streets is Rs 3,800 per sq.ft, placing Poompugar Nagar's 2024 figure above this median.

• Poompugar Nagar Extension Murugesan Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar Kollathur: Rs 5,500 per sq.ft (2024)
• Poompugar Nagar Salai First Street: 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

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 to Rs 4,95,000. 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 Poompugar Nagar?

Poompugar Nagar falls under the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher, which helps in maintaining a standardized approach to property registration.

Frequently asked questions

What is the current guideline value of Poompugar Nagar?

The current guideline value of Poompugar Nagar 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 is the land classification for Poompugar Nagar?

Poompugar Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Poompugar Nagar?

The Konnur Sub Registrar Office handles registrations for Poompugar Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.