Guideline Value for Poompugar Street

Poompugar Street guideline value

The current guideline value of Poompugar Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Poompugar Street has changed

The guideline value of Poompugar Street has undergone several revisions over the years. In 2012, the value was Rs 3,300 per sq.ft. This decreased to Rs 2,211 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 3,300 per sq.ft in 2023, followed by a further rise to Rs 3,600 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 9%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023 and a 9% increase from 2023 to 2024.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value is Rs 3,600 per sq.ft, which aligns with the current guideline value of Poompugar Street.

• Ponnambalam Street: Rs 3,600 per sq.ft (2024)
• Prithivipakkam 1st Avenue: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 1st Cross Street: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 1st Main Road: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 1st Street: Rs 4,000 per sq.ft (2024)
• Prithivipakkam 2nd Avenue: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Poompugar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, totaling Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poompugar Street?

The Sub Registrar Office that covers Poompugar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ambattur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are applied fairly based on the property's assessed value.

When buying or selling property, the guideline value helps establish a transparent and standardized pricing mechanism. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Poompugar Street?

The current guideline value of Poompugar Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,600 per sq.ft in 2024.

What is the land classification of Poompugar Street?

Poompugar Street is classified as Residential Class I Type - I.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 3,24,000.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.