Guideline Value for Poonga Anna Street

Poonga Anna Street guideline value

The current guideline value of Poonga Anna Street in Naravarikuppam village is Rs 1,870 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Poonga Anna Street has changed

The guideline value for Poonga Anna Street has undergone several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which then decreased to Rs 353 per sq.ft in 2003. Following this, the value increased to Rs 500 per sq.ft in 2007, and then saw a significant rise to Rs 1,700 per sq.ft in 2012. However, it dropped to Rs 1,139 per sq.ft in 2017. The value then increased to Rs 1,700 per sq.ft in 2023, and most recently, it has risen to Rs 1,870 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2002 revision to the current 2024 figure, the guideline value has decreased by 46%. The changes between the revisions show a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 240% increase from 2007 to 2012, and a 42% increase from 2003 to 2007. The register has no figure for the years not listed.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Poonga Anna Street's 2024 figure above this median.

• Poonga Street: Rs 1,870 per sq.ft (2024)
• Ponnuvel Street: Rs 1,320 per sq.ft (2024)
• Prakasam Street: Rs 1,320 per sq.ft (2024)
• Pillayar Kovil Street: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Cross Street: Rs 1,650 per sq.ft (2024)
• P.W.D. Office Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Poonga Anna Street

For a 1,000 sq.ft plot at the current rate of Rs 1,870 per sq.ft, the guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Poonga Anna Street?

The Sub Registrar Office covering Poonga Anna Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Naravarikuppam. It serves as a benchmark for determining 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.

During the registration process, the guideline value ensures that the property is not undervalued. Buyers and sellers must be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Poonga Anna Street?

The current guideline value of Poonga Anna Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, showing a decrease of 46% overall.

What is the registration office for Poonga Anna Street?

The registration office for Poonga Anna Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Poonga Anna Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 18,70,000, the stamp duty at 7% would be Rs 1,30,900.

What are the guideline values of other streets in Naravarikuppam?

Other streets in Naravarikuppam have varying guideline values, with rates ranging from Rs 1,320 to Rs 3,300 per sq.ft. For instance, Poonga Street also has a guideline value of Rs 1,870 per sq.ft in 2024.