Guideline Value for Poonga Street

Poonga Street guideline value

The current guideline value of Poonga Street in Agaramthen village under the Tambaram Joint 1 SRO is Rs 830 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Poonga Street has changed

Over the years, the guideline value of Poonga Street has seen various revisions. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 502 per sq.ft. Following this, the value increased significantly to Rs 750 per sq.ft in the 2023 revision, and then it rose again to Rs 830 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which is equal to the current value of Poonga Street.

• Prime Avenue: Rs 3,300 per sq.ft (2024)
• Prime Avenue Extension: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Main Road: Rs 830 per sq.ft (2024)
• Raghulamman Koil Cross Street: Rs 830 per sq.ft (2024)
• Raghulamman Koil Street: Rs 830 per sq.ft (2024)
• Ragulan Street: Rs 830 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees together to Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Poonga Street?

The Sub Registrar Office that covers Poonga Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value plays a crucial role in the registration process when buying or selling property in Agaramthen. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price is in line with the government's valuation.

When a transaction occurs, the stamp duty and registration fees are calculated based on this guideline value. This ensures that both the buyer and seller are aware of the financial implications involved in the property transaction, as these fees are mandatory for legal registration.

Frequently asked questions

What is the current guideline value of Poonga Street?

The current guideline value of Poonga Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Poonga Street?

Poonga Street is classified as Residential Class I Type - II according to the guideline value register.

Where can I find the Sub Registrar Office for Poonga Street?

The Sub Registrar Office for Poonga Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees can amount to Rs 74,700.