Guideline Value for Poongavanam Nagar 4th Street

Poongavanam Nagar 4th Street guideline value

The current guideline value of Poongavanam Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poongavanam Nagar 4th Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest 2024 revision shows an increase to Rs 2,700 per sq.ft, which represents a significant rise of 61% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value for Poongavanam Nagar 4th Street.

• Poongavanam Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Prakasam Avenue: Rs 2,200 per sq.ft (2024)
• Ponnuswamy Street (Near Milk Colony Road): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Poongavanam Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, these fees total Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poongavanam Nagar 4th Street?

The Madhavaram Sub Registrar Office covers Poongavanam Nagar 4th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value reflects the market standards for property in the area, helping both parties understand the financial implications of their transaction.

Frequently asked questions

What is the current guideline value of Poongavanam Nagar 4th Street?

The current guideline value of Poongavanam Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office is responsible for Poongavanam Nagar 4th Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, is responsible for Poongavanam Nagar 4th Street.

What is the land classification for Poongavanam Nagar 4th Street?

The land classification for Poongavanam Nagar 4th Street is Residential Class I Type - I.