Guideline Value for Poonthottam 2nd Street

Poonthottam 2nd Street guideline value

The current guideline value of Poonthottam 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Poonthottam 2nd Street has changed

The guideline value for Poonthottam 2nd Street has undergone several revisions over the years. The earliest recorded value was Rs 303 per sq.ft in 2002, which increased significantly to Rs 413 per sq.ft in 2003, marking a 36% rise. The value then saw a dramatic increase to Rs 2,500 per sq.ft in 2012, reflecting a 505% growth. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figure for this street in 2007.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Poonthottam 2nd Street is below this median.

• Poonthottam 3nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 1st street: Rs 2,750 per sq.ft (2024)
• Poonthottam 4th Street: Rs 2,750 per sq.ft (2024)
• Poonthottam Street: Rs 2,750 per sq.ft (2024)
• Poompuhar Street: Rs 2,750 per sq.ft (2024)
• Pon Thottam: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Poonthottam 2nd Street?

The Sub Registrar Office that covers Poonthottam 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When you engage in a property transaction, the guideline value helps to establish the minimum value on which taxes are calculated. This means that both buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

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

The current guideline value of Poonthottam 2nd Street is Rs 2,750 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 303 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 808% over the years.

What are the other streets in Parangimalai with the same guideline value?

Several other streets in Parangimalai have the same guideline value of Rs 2,750 per sq.ft for 2024, including Poonthottam 1st Street, Poonthottam 3nd Street, Poonthottam 4th Street, Poonthottam Street, Poompuhar Street, and Pon Thottam.

What is the stamp duty rate for property in Poonthottam 2nd Street?

The stamp duty rate for property in Poonthottam 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Poonthottam 2nd Street?

The Sub Registrar Office for Poonthottam 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.