Guideline Value for Poonamalle Road Lane

Poonamalle Road Lane guideline value

The current guideline value of Poonamalle Road Lane is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village under the AnnaNagar SRO, classified as Residential Class I Type - II.

How the guideline value of Poonamalle Road Lane has changed

The guideline value for Poonamalle Road Lane has seen several revisions over the years. In 2007, the value was set at Rs 1,300 per sq.ft, which increased significantly to Rs 10,000 per sq.ft in 2012, marking a substantial rise of 669%. However, from 2012 to 2017, the value decreased to Rs 6,700 per sq.ft, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 10,000 per sq.ft, followed by another increase to Rs 11,000 per sq.ft in 2024, reflecting a 10% increase.

In summary, the guideline value has increased from Rs 1,300 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, which is an overall increase of 746%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft as of 2024. The median value for these streets is Rs 11,500 per sq.ft, placing Poonamalle Road Lane's 2024 guideline value below this median.

• Pillaiar Koil Street: Rs 5,400 per sq.ft (2024)
• New Colony, Periyar Street, Slum Clearance Board Flats, Naduvakkarai TNHB Land: Rs 5,400 per sq.ft (2024)
• Nathamuni 2nd Cross Street: Rs 5,400 per sq.ft (2024)
• Naduvakkarai Street: Rs 5,500 per sq.ft (2024)
• Nadhamuni Reddy Street: Rs 5,400 per sq.ft (2024)
• M.G.R.Street, New Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamalle Road Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total amount to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Poonamalle Road Lane?

The Sub Registrar Office that covers Poonamalle Road Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Naduvakkarai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall costs involved in property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Poonamalle Road Lane?

The current guideline value of Poonamalle Road Lane is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,300 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, with several revisions occurring in between.

What is the median guideline value in Naduvakkarai?

The median guideline value in Naduvakkarai is Rs 11,500 per sq.ft, with Poonamalle Road Lane's value being below this median.

What are the stamp duty and registration fees for a property in Poonamalle Road Lane?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000, and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles property registrations for Poonamalle Road Lane?

The AnnaNagar Sub Registrar Office handles property registrations for Poonamalle Road Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.