Guideline Value for Poonthottam Colony Street

Poonthottam Colony Street guideline value

The current guideline value of Poonthottam Colony Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poonthottam Colony Street has changed

The guideline value for Poonthottam Colony Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 363 per sq.ft. This increased to Rs 440 per sq.ft in 2003, marking a 21% rise. The value further increased to Rs 1,200 per sq.ft in 2007, which was a significant jump of 173%. In 2012, the guideline value was Rs 4,000 per sq.ft, reflecting a 233% increase from the previous revision. However, it then decreased by 33% to Rs 2,680 per sq.ft in 2017.

From the 2017 revision to 2023, the value rose sharply by 49% to reach Rs 4,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the revisions in the years not listed in the register.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Poonthottam Colony Street above this median.

• Poonthottam 2nd Street: Rs 5,500 per sq.ft (2024)
• Poonthottam 1st Street: Rs 5,500 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 Colony Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total charges would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poonthottam Colony Street?

The Sub Registrar Office that covers Poonthottam Colony Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, Chennai registration zone. 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 must be paid during the buying or selling of property.

When a property is registered, the guideline value is compared to 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 in the area.

Frequently asked questions

What is the current guideline value of Poonthottam Colony Street?

The current guideline value of Poonthottam Colony Street is Rs 4,400 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 363 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1112% over the years.

What is the land classification for Poonthottam Colony Street?

Poonthottam Colony Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Poonthottam Colony 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 Nanganallur?

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 44,00,000, the stamp duty would be calculated on this amount if it is higher than the sale price.