Guideline Value for Poornathilagam 2nd Street

Poornathilagam 2nd Street guideline value

The current guideline value of Poornathilagam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poornathilagam 2nd Street has changed

The guideline value for Poornathilagam 2nd Street has seen several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The guideline value then increased significantly to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 reflects a 10% increase, despite the fluctuations observed in the intervening years.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Poornathilagam 2nd Street.

• Poornathilagam 1st Street: Rs 3,300 per sq.ft (2024)
• Poornathilagam 3rd Street: Rs 3,300 per sq.ft (2024)
• Poornathilagam Cross Street: Rs 2,200 per sq.ft (2024)
• Porur Street: Rs 2,200 per sq.ft (2024)
• Pulikoradu Road: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street (Near Mudichur Road Ward-31): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poornathilagam 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poornathilagam 2nd Street?

The Sub Registrar Office that covers Poornathilagam 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential reference used during the registration of property transactions. It helps determine the stamp duty and registration fees applicable, ensuring that these charges are based on a standardized valuation of the property.

When buying or selling property in Tambaram, it is crucial to be aware of the guideline value as it directly impacts the financial aspects of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Poornathilagam 2nd Street?

The current guideline value of Poornathilagam 2nd 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

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

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 office handles registrations for Poornathilagam 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Poornathilagam 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Poornathilagam 2nd Street?

The land classification for Poornathilagam 2nd Street is Residential Class I Type - I.