Guideline Value for Poonthottam 3rd Street

Poonthottam 3rd Street guideline value

The current guideline value of Poonthottam 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Poonthottam 3rd Street has changed

The guideline value for Poonthottam 3rd 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, marking a 200% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The subsequent revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 3,000 per sq.ft, and the latest revision in 2024 has set the current value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Nandhambakkam

Nandhambakkam has a total of 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in this village is Rs 3,900 per sq.ft, indicating that Poonthottam 3rd Street's current value is below this median.

• Poonthottam 4th Street: Rs 3,300 per sq.ft (2024)
• Poonthottam 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total cost for these fees to 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 information on fees applicable to your property transaction.

Which Sub Registrar Office covers Poonthottam 3rd Street?

The Sub Registrar Office that covers Poonthottam 3rd 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 determining the stamp duty and registration fees when buying or selling property in Nandhambakkam. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and equitable.

Frequently asked questions

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

The current guideline value of Poonthottam 3rd 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, reflecting an overall increase of 230% over the years.

What is the registration office for Poonthottam 3rd Street?

The registration office for Poonthottam 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Nandhambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.

What are the other streets in Nandhambakkam with similar guideline values?

Other streets in Nandhambakkam with a guideline value of Rs 3,300 per sq.ft include Poonthottam 4th Street, Poonthottam 2nd Street, and Poonthottam First Street, all having the same rate for 2024.