Guideline Value for Poompuhar Street

Poompuhar Street guideline value

The current guideline value of Poompuhar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Poompuhar Street has changed

The guideline value for Poompuhar Street has seen several revisions over the years. In 2002, the guideline value was Rs 236 per sq.ft, which increased to Rs 320 per sq.ft in 2003, marking a change of +36%. The value continued to rise significantly, reaching Rs 750 per sq.ft in 2007, which was a +134% increase from the previous revision. By 2012, the guideline value was Rs 2,500 per sq.ft, reflecting a considerable increase of +233% from 2007, but it then decreased by -33% to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it increased by +10% to reach the current guideline value of Rs 2,750 per sq.ft in 2024.

There are no figures available for the revisions in years that do not have a specific value listed for this street. Overall, from 2002 to 2024, the guideline value has increased by +1065%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Poompuhar Street is below this median.

• Poonthottam 1st street: Rs 2,750 per sq.ft (2024)
• Poonthottam 2nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 3nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 4th Street: Rs 2,750 per sq.ft (2024)
• Poonthottam Street: Rs 2,750 per sq.ft (2024)
• Pon Thottam: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Poompuhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poompuhar Street?

Poompuhar Street is covered by the Chennai South Joint II 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 Parangimalai

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. It serves as the basis for calculating the stamp duty and registration fees that are payable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poompuhar Street?

The current guideline value of Poompuhar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 236 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting significant increases and some decreases in between.

What is the registration office for Poompuhar Street?

The registration office for Poompuhar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Poompuhar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.

What are the other streets with the same guideline value in Parangimalai?

Other streets in Parangimalai with the same guideline value of Rs 2,750 per sq.ft for 2024 include Poonthottam 1st street, Poonthottam 2nd Street, Poonthottam 3nd Street, Poonthottam 4th Street, Poonthottam Street, and Pon Thottam.