Guideline Value for Poornathilagam 3rd Street

Poornathilagam 3rd Street guideline value

The current guideline value of Poornathilagam 3rd Street is Rs 3,300 per sq.ft. 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 3rd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Poornathilagam 3rd Street.

• Poornathilagam 2nd Street: Rs 3,300 per sq.ft (2024)
• Poornathilagam Cross Street: Rs 2,200 per sq.ft (2024)
• Poornathilagam 1st Street: Rs 3,300 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 3rd 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. The duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Poornathilagam 3rd Street?

The Sub Registrar Office that covers Poornathilagam 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price, whichever is greater.

Frequently asked questions

What is the current guideline value of Poornathilagam 3rd Street?

The current guideline value of Poornathilagam 3rd 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 increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Poornathilagam 3rd Street?

Poornathilagam 3rd Street is classified as Residential Class I Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for Poornathilagam 3rd Street?

The Sub Registrar Office for Poornathilagam 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Poornathilagam 3rd Street?

The stamp duty for properties in Poornathilagam 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.