Guideline Value for Poonthamalli High Road

Poonthamalli High Road guideline value

The current guideline value of Poonthamalli High Road is Rs 6,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Poonthamalli High Road has changed

Over the years, the guideline value of Poonthamalli High Road has seen significant changes. In 2002, the value was Rs 437 per sq.ft, which increased to Rs 750 per sq.ft in both 2003 and 2007. The next revision in 2012 saw a decrease to Rs 5,500 per sq.ft, followed by a drop to Rs 3,685 per sq.ft in 2017. The 2023 revision increased the value to Rs 5,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 6,050 per sq.ft. There are no figures available for the revisions in years not listed.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision saw a rise of 10%. The 2012 to 2017 period experienced a decrease of 33%, while the 2007 to 2012 period saw a substantial increase of 633%. The value remained the same from 2003 to 2007, and from 2002 to 2003, it increased by 72%. Overall, from 2002 to 2024, the guideline value has risen by 1284%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Poonthamalli High Road's 2024 figure above that median.

• Ponniyamman Koil Main Road: Rs 3,050 per sq.ft (2024)
• Ponniyamman Koil 3rd Cross Street: Rs 3,050 per sq.ft (2024)
• Ponniyamman Koil 2nd Cross Street: Rs 3,050 per sq.ft (2024)
• Ponniyamman Koil 1st Cross Street: Rs 3,050 per sq.ft (2024)
• Pon Nagar: Rs 3,050 per sq.ft (2024)
• Police Lane Quarters: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Poonthamalli High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, while the registration fee at 2% would be Rs 1,21,000, bringing the total cost for these fees to Rs 5,44,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonthamalli High Road?

The Sub Registrar Office that covers Poonthamalli High Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it may influence negotiations and the final sale price. Buyers should ensure that the sale price is not below the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Poonthamalli High Road?

The current guideline value of Poonthamalli High Road is Rs 6,050 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 437 per sq.ft in 2002 to Rs 6,050 per sq.ft in 2024, reflecting an overall increase of 1284% over the years.

What is the land classification for Poonthamalli High Road?

Poonthamalli High Road is classified as Commercial Special Type - I, which indicates its use for specific commercial activities.

What are the stamp duty and registration fees for properties on Poonthamalli High Road?

For a property valued at Rs 60,50,000, the stamp duty would be Rs 4,23,500 and the registration fee would be Rs 1,21,000, totaling Rs 5,44,500.

Which office handles property registrations for Poonthamalli High Road?

The Virugambakkam Sub Registrar Office handles property registrations for Poonthamalli High Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.