Guideline Value for Poonthottam First Street

Poonthottam First Street guideline value

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

How the guideline value of Poonthottam First Street has changed

The guideline value of Poonthottam First Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. By 2023, the value increased to Rs 3,000 per sq.ft, and in the latest revision for 2024, it stands at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

In summary, from 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 230%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam has a total of 76 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, making the current value of Poonthottam First Street below this median.

• Poonthottam 4th Street: Rs 3,300 per sq.ft (2024)
• Poonthottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Poonthottam 2nd 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 First 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, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poonthottam First Street?

The Sub Registrar Office that covers Poonthottam First 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 more information.

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

The guideline value is a critical factor during the registration of property transactions in Nandhambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly affect the total expenditure involved in the property transaction.

Frequently asked questions

What is the current guideline value of Poonthottam First Street?

The current guideline value of Poonthottam First 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 are the stamp duty and registration fees for property in Poonthottam First Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Poonthottam First Street?

The Alandur Sub Registrar Office covers Poonthottam First Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Poonthottam First Street?

The land classification for Poonthottam First Street is Residential Class II Type - II.