Guideline Value for Poonamallee High road lane E.V.R. Lane

Poonamallee High road lane E.V.R. Lane guideline value

The current guideline value for Poonamallee High road lane E.V.R. Lane is Rs 13,500 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Commercial Special Type - III.

How the guideline value of Poonamallee High road lane E.V.R. Lane has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision set the value at Rs 12,300 per sq.ft, which was a decrease of 33% from the Rs 8,241 per sq.ft recorded in the 2017 revision. The value remained at Rs 12,300 per sq.ft in 2012 until it was revised to Rs 12,300 per sq.ft in 2023, before increasing to Rs 13,500 per sq.ft in 2024, marking a 10% increase.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value rose by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing the Poonamallee High road lane E.V.R. Lane's 2024 figure above that median.

• Poonamallee High road (or) E.V.R. Salai: Rs 18,100 per sq.ft (2024)
• Poosala Boopathy Nagar: Rs 7,100 per sq.ft (2024)
• Poosala Gengu Reddy street: Rs 7,100 per sq.ft (2024)
• Post Audit road: Rs 7,100 per sq.ft (2024)
• Ponniamman street: Rs 18,100 per sq.ft (2024)
• Ponnappa Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Poonamallee High road lane E.V.R. Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,500 per sq.ft, the total guideline value would be Rs 1,35,00,000. The stamp duty at 7% would be Rs 9,45,000, and the registration fee at 2% would be Rs 2,70,000, bringing the total to Rs 12,15,000. It is important to note that 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 Poonamallee High road lane E.V.R. Lane?

The Sub Registrar Office that covers Poonamallee High road lane E.V.R. Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Egmore, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Poonamallee High road lane E.V.R. Lane?

The current guideline value for Poonamallee High road lane E.V.R. Lane is Rs 13,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,300 per sq.ft in 2023 to Rs 13,500 per sq.ft in 2024, marking a 10% increase. It was Rs 8,241 per sq.ft in 2017, which increased to Rs 12,300 per sq.ft in 2023, reflecting a 49% rise.

What is the land classification for this street?

Poonamallee High road lane E.V.R. Lane is classified as Commercial Special Type - III. This classification can impact the types of developments and activities permitted on the property.

Where can I find the registration office for this area?

The registration office for Poonamallee High road lane E.V.R. Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,35,00,000 would incur a stamp duty of Rs 9,45,000 and a registration fee of Rs 2,70,000.