Guideline Value for Poompukar Nagar

Poompukar Nagar guideline value

The current guideline value of Poompukar Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Poompukar Nagar has changed

The guideline value for Poompukar Nagar has seen significant changes over the years. In 2007, the value was Rs 250 per sq.ft, which increased dramatically to Rs 2,200 per sq.ft in 2012, marking a rise of 780%. However, it then decreased to Rs 1,474 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 2,200 per sq.ft in 2023, and most recently to Rs 2,400 per sq.ft in 2024, reflecting a 9% increase.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 860%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Poompukar Nagar's 2024 guideline value is above this median.

• Pillaiyar Koil Street: Rs 1,400 per sq.ft (2024)
• Puratchi Thalaivar Nagar: Rs 1,400 per sq.ft (2024)
• Pidariamman Koil street: Rs 1,400 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Nagar (Corner Plots): Rs 3,300 per sq.ft (2024)
• Ramakrishna Nagar/Cross Street/Sathiyamurthy Ngar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Poompukar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, resulting in a total of Rs 2,16,000 for these fees. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poompukar Nagar?

The Sub Registrar Office that covers Poompukar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Ernavur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When buyers or sellers engage in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Poompukar Nagar?

The current guideline value of Poompukar Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 860% over the years.

What are the other streets in Ernavur and their guideline values?

Other streets in Ernavur include Pillaiyar Koil Street, Puratchi Thalaivar Nagar, and Pidariamman Koil street, all at Rs 1,400 per sq.ft, while Rajivgandhi Nagar and Rajiv Gandhi Nagar (Corner Plots) are at Rs 3,300 per sq.ft. Ramakrishna Nagar/Cross Street/Sathiyamurthy Ngar is also at Rs 2,400 per sq.ft.

How is stamp duty calculated for properties in Poompukar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,400 per sq.ft, the stamp duty would be Rs 1,68,000.

Where can I find the Sub Registrar Office for Poompukar Nagar?

The Sub Registrar Office for Poompukar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.