Guideline Value for Pooncheri Masimaga Nagar

Pooncheri Masimaga Nagar guideline value

The current guideline value of Pooncheri Masimaga Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is situated in Mamallapuram village and falls under the Thirukazhukundram SRO, classified as Residential Class V Type - I.

How the guideline value of Pooncheri Masimaga Nagar has changed

Over the years, the guideline value for Pooncheri Masimaga Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase of 10% from the 2023 revision of Rs 500 per sq.ft. The 2023 revision itself marked a significant rise of 49% from the 2017 figure of Rs 335 per sq.ft. The 2012 revision had set the value at Rs 500 per sq.ft, which was a decrease of 33% from the 2017 revision.

Looking further back, the register has no figures for the years 2007, 2003, and 2002 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 935 per sq.ft. Pooncheri Masimaga Nagar's current guideline value is below this median.

• Pooncheri Lalbagathur Sasthiri Street: Rs 550 per sq.ft (2024)
• Pooncheri Mettu Colon B.G.Road: Rs 550 per sq.ft (2024)
• Pooncheri Colony Barial Ground Road: Rs 550 per sq.ft (2024)
• Pooncheri Padasalai Street: Rs 935 per sq.ft (2024)
• Pooncheri Colony Barial Ground Cross Street: Rs 550 per sq.ft (2024)
• Pooncheri Village B.G.Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Pooncheri Masimaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 Pooncheri Masimaga Nagar?

The Sub Registrar Office that covers Pooncheri Masimaga Nagar is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mamallapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Pooncheri Masimaga Nagar?

The current guideline value of Pooncheri Masimaga Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, marking a 10% increase. It was Rs 335 per sq.ft in 2017, which means there has been a significant rise of 49% from 2017 to 2023.

What is the land classification for Pooncheri Masimaga Nagar?

Pooncheri Masimaga Nagar is classified as Residential Class V Type - I. This classification determines the type of development allowed in the area.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. The registration fee is set at 2% of the same amount.

Where can I find more information about the Sub Registrar Office?

The Thirukazhukundram Sub Registrar Office covers Pooncheri Masimaga Nagar, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find more information by visiting the appropriate link.