Guideline Value for Poonga road

Poonga road guideline value

The current guideline value of Poonga road in Perungalathur village, under the Padappai SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Poonga road has changed

The guideline value for Poonga road has seen significant changes over the years. In 2007, the value was Rs 250 per sq.ft, which increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 980%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, reflecting an increase of 49% from 2017. The most recent revision in 2024 shows a further increase to Rs 2,970 per sq.ft, representing a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1088%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Poonga road's 2024 guideline value above this median.

• Pillaiyar Koil Street: Rs 2,310 per sq.ft (2024)
• Pettai Street: Rs 1,980 per sq.ft (2024)
• Peruratchi Mandra Theru: Rs 1,980 per sq.ft (2024)
• Perumal Theru: Rs 1,980 per sq.ft (2024)
• Perumal Road: Rs 2,640 per sq.ft (2024)
• Ragava Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Poonga road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 29,70,000. The stamp duty at 7% amounts to Rs 2,07,900, while the registration fee at 2% is Rs 59,400, bringing the total to Rs 2,67,300. 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 road?

The Sub Registrar Office that covers Poonga road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value will influence the overall costs associated with property transactions.

When registering a property, the guideline value serves as a benchmark for calculating the applicable duties and fees. It is essential for both parties to understand this value to ensure compliance with local regulations and to prepare for the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Poonga road?

The current guideline value of Poonga road is Rs 2,970 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 250 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 1088%.

What is the land classification for Poonga road?

Poonga road is classified as Commercial Class I Type - II.

What are the stamp duty and registration fees for properties on Poonga road?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 2,67,300, based on the current guideline value.

Which office manages the registration for Poonga road?

The registration for Poonga road is managed by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.