Guideline Value for Poongavanam Nagar Main Road

Poongavanam Nagar Main Road guideline value

The current guideline value of Poongavanam Nagar Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Poongavanam Nagar Main Road has changed

The guideline value for Poongavanam Nagar Main Road has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, the most recent revision in 2024 has increased the value to Rs 2,700 per sq.ft, reflecting a significant rise of 61% from the 2017 figure.

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

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Poongavanam Nagar Main Road.

• Poongavanam Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Poongavanam Nagar 3rd Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 Poongavanam Nagar Main Road?

The Sub Registrar Office that covers Poongavanam Nagar Main Road is the Madhavaram Sub Registrar Office, 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 plays a crucial role during the registration of property transactions in Kodungaiyur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, making it essential for both buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Poongavanam Nagar Main Road?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting at Rs 2,500 per sq.ft, dropping to Rs 1,675 per sq.ft in 2017, and then rising to Rs 2,700 per sq.ft in 2024.

What is the land classification for Poongavanam Nagar Main Road?

Poongavanam Nagar Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees can amount to Rs 2,43,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it handles property registrations for Poongavanam Nagar Main Road.