Guideline Value for Poonthottam 2nd Street

Poonthottam 2nd Street guideline value

The current guideline value of Poonthottam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Poonthottam 2nd Street has changed

The guideline value for Poonthottam 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the increase is 230%. This shows a significant change in the guideline value over the years.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, positioning Poonthottam 2nd Street's 2024 guideline value below that median.

• Poonthottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Poonthottam 4th Street: Rs 3,300 per sq.ft (2024)
• Poonthottam First Street: Rs 3,300 per sq.ft (2024)
• Pathmini Garden: Rs 8,300 per sq.ft (2024)
• Ramar Koil Street: Rs 5,000 per sq.ft (2024)
• North Mada Veedhi: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Poonthottam 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poonthottam 2nd Street?

The Sub Registrar Office that covers Poonthottam 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poonthottam 2nd Street?

The current guideline value of Poonthottam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What are the guideline values for other streets in Nandhambakkam?

Other streets in Nandhambakkam have guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft, with a median value of Rs 3,900 per sq.ft.

What are the stamp duty and registration fees for property in Poonthottam 2nd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000 based on the current guideline value of Rs 3,300 per sq.ft.

Which office handles property registrations for Poonthottam 2nd Street?

The Alandur Sub Registrar Office handles property registrations for Poonthottam 2nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.