Guideline Value for Poonthottam 4th Street

Poonthottam 4th Street guideline value

The current guideline value of Poonthottam 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Poonthottam 4th Street has changed

The guideline value for Poonthottam 4th Street has seen 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. After that, the value rose dramatically by 505% to reach Rs 2,500 per sq.ft in 2012. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then increased by 49% to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft after a 10% increase in 2024.

It is important to note that the register has no figure for Poonthottam 4th Street for the year 2007. Overall, from 2002 to 2024, the guideline value has increased by 808%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, indicating that Poonthottam 4th Street's current value is below the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total 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. Together, these fees would total Rs 2,47,500. 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 4th Street?

Poonthottam 4th Street falls under 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 a crucial factor during the registration of property transactions in Parangimalai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Poonthottam 4th Street?

The current guideline value of Poonthottam 4th 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 303 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 808% over this period.

What is the registration office for Poonthottam 4th Street?

The registration office for Poonthottam 4th 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.

What are the stamp duty and registration fees for property in this area?

For a property valued at 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.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Poonthottam 4th Street.