Guideline Value for Poonchreri Mettu Colony 2nd Street

Poonchreri Mettu Colony 2nd Street guideline value

The current guideline value of Poonchreri Mettu Colony 2nd Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village, under the Thirukazhukundram SRO, and is classified as Residential Class V Type - I.

How the guideline value of Poonchreri Mettu Colony 2nd Street has changed

The guideline value for Poonchreri Mettu Colony 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased to Rs 500 per sq.ft in 2023, and finally, it rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased 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 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. The guideline value for Poonchreri Mettu Colony 2nd Street is below this median.

• Poonchreri Mettu Colony 1st Street: Rs 550 per sq.ft (2024)
• Poonchreri Mettu Colony 1st & 2nd Joint Street: Rs 550 per sq.ft (2024)
• Poonchreri Mettu Colony: Rs 550 per sq.ft (2024)
• Pooncheri Village B.G.Road: Rs 550 per sq.ft (2024)
• Pooncheri Mettu Colon B.G.Road: Rs 550 per sq.ft (2024)
• Poonchreri Padasalai Street: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Poonchreri Mettu Colony 2nd Street

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. Therefore, the total cost for these fees together would be Rs 49,500. 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 more detailed calculations.

Which Sub Registrar Office covers Poonchreri Mettu Colony 2nd Street?

The Sub Registrar Office that covers Poonchreri Mettu Colony 2nd Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Mamallapuram. It determines the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value according to government standards.

When buyers and sellers engage in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Poonchreri Mettu Colony 2nd Street?

The current guideline value of Poonchreri Mettu Colony 2nd Street 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 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Poonchreri Mettu Colony 2nd Street?

Poonchreri Mettu Colony 2nd Street is classified as Residential Class V Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 5,50,000, the total fees would be Rs 49,500.

Which office handles the registration for Poonchreri Mettu Colony 2nd Street?

The Thirukazhukundram Sub Registrar Office handles the registration for Poonchreri Mettu Colony 2nd Street, located at Thiruchengode - 637 211, Chengalpattu registration zone.