Guideline Value for Poonthottam 3nd Street

Poonthottam 3nd Street guideline value

The current guideline value of Poonthottam 3nd 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 3nd Street has changed

The guideline value for Poonthottam 3nd Street has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

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. The median value for these streets is Rs 3,850 per sq.ft, indicating that Poonthottam 3nd Street's 2024 figure is below that median.

• Poonthottam 2nd Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 4th Street: Rs 2,750 per sq.ft (2024)
• Poonthottam 1st 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 3nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Poonthottam 3nd Street?

The Sub Registrar Office that covers Poonthottam 3nd 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 information.

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

The guideline value is an essential factor when registering property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the correct amount is paid to the government during the registration process.

Frequently asked questions

What is the current guideline value of Poonthottam 3nd Street?

The current guideline value of Poonthottam 3nd 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 from Rs 750 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in Poonthottam 3nd Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Poonthottam 3nd Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Poonthottam 3nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It is compared to the sale price to ensure the correct fees are paid during the registration process.