Guideline Value for Poonniamman Nagar

Poonniamman Nagar guideline value

The current guideline value of Poonniamman Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Chikkarayapuram village under the Kunrathur SRO, classified as Residential Class I Type - III.

How the guideline value of Poonniamman Nagar has changed

The guideline value for Poonniamman Nagar has seen significant changes over the years. In 2003, the value was Rs 43 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This marked a substantial rise of 598%. The value then surged to Rs 1,300 per sq.ft in 2012, representing a 333% increase. However, it dropped to Rs 871 per sq.ft in 2017, reflecting a decrease of 33%. The value further increased to Rs 1,300 per sq.ft in 2023, before reaching the current rate of Rs 1,430 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by an impressive 3226%. The changes between the revisions highlight the fluctuations in property values over the years, with the most recent revision indicating a positive trend.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft, with a median value of Rs 1,980 per sq.ft. Poonniamman Nagar's 2024 figure is below this median.

• Perumal Koil Street: Rs 1,980 per sq.ft (2024)
• Pathmavathi Nagar: Rs 1,980 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,980 per sq.ft (2024)
• R.K.M. Nagar: Rs 1,980 per sq.ft (2024)
• Sakthi Nagar: Rs 1,980 per sq.ft (2024)
• Sangamithra Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Poonniamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonniamman Nagar?

The Sub Registrar Office that covers Poonniamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Chikkarayapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value impacts the stamp duty and registration fees payable. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price, which can affect the overall financial outlay in a property transaction.

Frequently asked questions

What is the current guideline value of Poonniamman Nagar?

The current guideline value of Poonniamman Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 43 per sq.ft in 2003 to Rs 1,430 per sq.ft in 2024, marking an overall increase of 3226% over this period.

What is the registration office for Poonniamman Nagar?

The registration office for Poonniamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Poonniamman Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 at 7%.

What other streets have guideline values in Chikkarayapuram?

Other streets in Chikkarayapuram include Perumal Koil Street, Pathmavathi Nagar, Rajiv Gandhi Nagar, R.K.M. Nagar, Sakthi Nagar, and Sangamithra Avenue, all with a 2024 guideline value of Rs 1,980 per sq.ft.