Guideline Value for Poonga Street

Poonga Street guideline value

The current guideline value of Poonga Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Poonga Street has changed

The guideline value for Poonga Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 1,005 per sq.ft. However, the value saw a significant increase in the 2023 revision, rising to Rs 1,500 per sq.ft, and then further increasing to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning Poonga Street's 2024 figure below that median.

• Porur Street: Rs 3,500 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,800 per sq.ft (2024)
• Professor Colony: Rs 3,500 per sq.ft (2024)
• Professor Colony 1st Cross Street: Rs 3,500 per sq.ft (2024)
• Professor Colony 1st Main Road: Rs 3,500 per sq.ft (2024)
• Professor Colony 1st Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Poonga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poonga Street?

The Sub Registrar Office that covers Poonga Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It determines the stamp duty and registration fees that need to be paid during the transfer of property ownership. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Poonga Street?

The current guideline value of Poonga Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the stamp duty and registration fees for Poonga Street?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,44,000, which includes a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000.

Which Sub Registrar Office covers Poonga Street?

The Selaiyur Sub Registrar Office covers Poonga Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Poonga Street?

Poonga Street is classified as Residential Class II Type - II, indicating its suitability for residential development.