Guideline Value for Pooncholai Street

Pooncholai Street guideline value

The current guideline value of Pooncholai Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Kattupakkam village and falls under the Kunrathur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Pooncholai Street has changed

The guideline value for Pooncholai Street has seen several revisions over the years. In 2003, the guideline value was Rs 209 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a growth of 187%. The value then rose dramatically to Rs 3,600 per sq.ft in 2012, reflecting a 500% increase. However, it dropped to Rs 2,412 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,600 per sq.ft in 2023, and currently stands at Rs 3,960 per sq.ft following the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for Pooncholai Street. Overall, from 2003 to 2024, the guideline value has increased by a substantial 1795%.

Guideline values in Kattupakkam

Kattupakkam village has a total of 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Pooncholai Street's 2024 figure above that median.

• Poonamallee - Amainthakari Road: Rs 4,290 per sq.ft (2024)
• Pillaiyar koil Street: Rs 2,090 per sq.ft (2024)
• Peria Pattu Street: Rs 3,520 per sq.ft (2024)
• Paventher Nagar: Rs 3,520 per sq.ft (2024)
• Paventhar Nagar Extension: Rs 2,090 per sq.ft (2024)
• Palla Street: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Pooncholai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, making the total fees together Rs 3,56,400. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pooncholai Street?

Pooncholai Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer is required to pay the stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Pooncholai Street?

The current guideline value of Pooncholai Street is Rs 3,960 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 209 per sq.ft in 2003 to Rs 3,960 per sq.ft in 2024, with various increases and decreases recorded in between.

What are the stamp duty rates for properties in Kattupakkam?

The stamp duty for properties in Kattupakkam is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the registration office for Pooncholai Street?

The registration office for Pooncholai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Kattupakkam?

The median guideline value for streets in Kattupakkam is Rs 2,090 per sq.ft, with Pooncholai Street's value above this median.