Guideline Value for Poongani Amman Nagar

Poongani Amman Nagar guideline value

The current guideline value of Poongani Amman Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Mevaloorkuppam village, falling under the Sriperumpudur SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Poongani Amman Nagar has changed

The guideline value for Poongani Amman Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 65 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision, marking a rise of 208%. However, in the 2017 revision, the value decreased to Rs 134 per sq.ft, a drop of 33%. The 2023 revision further reduced the value to Rs 100 per sq.ft, a decline of 25%. The most recent 2024 revision has increased the guideline value to Rs 200 per sq.ft, reflecting a 100% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 208% in the guideline value.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Poongani Amman Nagar is below this median.

• Raghavendra Nagar: Rs 900 per sq.ft (2024)
• Rainbow Nagar: Rs 200 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)
• Nehru Street: Rs 300 per sq.ft (2024)
• Nehru Cross Street: Rs 200 per sq.ft (2024)
• Santhi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Poongani Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poongani Amman Nagar?

The Sub Registrar Office that covers Poongani Amman Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mevaloorkuppam. It serves as a benchmark for determining the stamp duty and registration fees, which are based on the higher of the guideline value or the actual sale price of the property.

When engaging in a property transaction, it is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with registration. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Poongani Amman Nagar?

The current guideline value of Poongani Amman Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 65 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and further to Rs 100 per sq.ft in 2023. The most recent increase to Rs 200 per sq.ft occurred in 2024.

What is the median guideline value in Mevaloorkuppam?

The median guideline value in Mevaloorkuppam is Rs 400 per sq.ft, while Poongani Amman Nagar's guideline value is below this median.

What are the stamp duty rates for property in Poongani Amman Nagar?

The stamp duty for property in Poongani Amman Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for Poongani Amman Nagar?

The Sub Registrar Office for Poongani Amman Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.