Guideline Value for Poonthottam 2nd Street

Poonthottam 2nd Street guideline value

The current guideline value of Poonthottam 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Poonthottam 2nd Street has changed

The guideline value for Poonthottam 2nd Street has seen several revisions over the years. In 2002, the value was Rs 363 per sq.ft, which increased to Rs 440 per sq.ft in 2003, marking a change of +21%. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, an increase of +173%. By 2012, the value was Rs 5,000 per sq.ft, reflecting a substantial increase of +317% from the previous revision. However, between 2012 and 2017, the guideline value decreased to Rs 3,350 per sq.ft, a drop of -33%. The value then increased again to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 5,500 per sq.ft, which is a rise of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1415%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value in the village is Rs 3,900 per sq.ft, placing Poonthottam 2nd Street's current value above this median.

• Poonthottam 1st Street: Rs 5,500 per sq.ft (2024)
• Poonthottam Colony Street: Rs 4,400 per sq.ft (2024)
• Pookkara Street: Rs 3,900 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,800 per sq.ft (2024)
• Railway Lane: Rs 3,300 per sq.ft (2024)
• Rajaji 1st Street: Rs 2,800 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 guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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 Nanganallur

The guideline value is a crucial factor in the registration process of property transactions in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you register a property, the guideline value is compared against the sale price, and the higher amount is used to calculate the applicable duties and fees. 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 363 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1415% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registration for Poonthottam 2nd Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price to ensure that the appropriate duties are collected based on the higher amount.