Guideline Value for Poonthottam Colony Street

Poonthottam Colony Street guideline value

The current guideline value of Poonthottam Colony Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Poonthottam Colony Street has changed

The guideline value for Poonthottam Colony Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 11%. The overall change from 2007 to 2024 reflects a substantial increase of 212%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the current guideline value for Poonthottam Colony Street. Below are the guideline values for other streets in Palavanthangal:

• Puliyanthoppu: Rs 2,800 per sq.ft (2024)
• Railway Border Colony: Rs 4,400 per sq.ft (2024)
• Railway partar Road: Rs 4,400 per sq.ft (2024)
• Pazhvanthangal Main Road(Gandhi Road): Rs 3,900 per sq.ft (2024)
• Panar Street: Rs 3,300 per sq.ft (2024)
• Rangabhashyam Pillai Street: Rs 4,400 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 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Poonthottam Colony Street?

Poonthottam Colony Street falls under the jurisdiction of 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 more information.

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

The guideline value is a crucial factor during property registration in Palavanthangal. It serves as a reference point for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to a property.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency in the transaction and helps in preventing undervaluation of properties.

Frequently asked questions

What is the current guideline value for Poonthottam Colony Street?

The current guideline value for Poonthottam Colony Street is Rs 3,900 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 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 212%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.

Which office handles property registrations for Poonthottam Colony Street?

The Alandur Sub Registrar Office handles property registrations for Poonthottam Colony Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Poonthottam Colony Street?

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