Guideline Value for Poonappanstreet

Poonappanstreet guideline value

The current guideline value of Poonappanstreet is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO and is classified as Residential Class II Type - I.

How the guideline value of Poonappanstreet has changed

The guideline value for Poonappanstreet has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in the 2012 revision, followed by a decrease to Rs 3,685 per sq.ft in 2017. The 2023 revision saw a rise to Rs 5,500 per sq.ft, and the most recent 2024 revision established the current value at Rs 6,000 per sq.ft. The register has no figure for this street in 2002 and 2003.

Between the revisions, notable changes include an increase of 588% from 2007 to 2012, a decrease of 33% from 2012 to 2017, a significant increase of 49% from 2017 to 2023, and a rise of 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 650%.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. Poonappanstreet's 2024 figure is above this median.

• Poonamallee High Road: Rs 18,100 per sq.ft (2024)
• Pooram Prakasa Rao 2nd street: Rs 4,800 per sq.ft (2024)
• Pooram Prakasa Rao colony: Rs 4,800 per sq.ft (2024)
• Pooramrakasa Rao 1st street: Rs 6,000 per sq.ft (2024)
• Powder MillsRoad: Rs 4,800 per sq.ft (2024)
• Ponniyamman Koil street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Poonappanstreet

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, together totaling Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Poonappanstreet?

The Sub Registrar Office that covers Poonappanstreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Vepery. It determines the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Poonappanstreet?

The current guideline value of Poonappanstreet is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 650% over the years.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles the registration for Poonappanstreet?

The registration for Poonappanstreet is handled by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Poonappanstreet?

Poonappanstreet is classified as Residential Class II Type - I, indicating its suitability for residential purposes.