Guideline Value for Poornathilagam Cross Street

Poornathilagam Cross Street guideline value

The current guideline value of Poornathilagam Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Poornathilagam Cross Street has changed

The guideline value for Poornathilagam Cross Street has seen significant changes over the years. In 2002, the value was Rs 186 per sq.ft, which increased to Rs 350 per sq.ft in 2003, marking an increase of 88%. The value further rose to Rs 500 per sq.ft in 2007, reflecting a 43% increase. By 2012, the value was Rs 2,000 per sq.ft, showing a substantial increase of 300% from the previous revision. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,083%. There are no figures available for the revisions in years other than those listed.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Poornathilagam Cross Street's 2024 figure below that median.

• Poornathilagam 3rd Street: Rs 3,300 per sq.ft (2024)
• Poornathilagam 2nd Street: Rs 3,300 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 Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poornathilagam Cross Street?

The Sub Registrar Office that covers Poornathilagam Cross 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 further assistance.

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

The guideline value serves as a benchmark for property transactions in Tambaram. It is used to calculate the stamp duty and registration fees when a property is bought or sold, ensuring that the transaction is registered at a fair value as per government regulations.

When you engage in a property transaction, the guideline value is crucial as it determines the minimum value at which the property can be registered. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Poornathilagam Cross Street?

The current guideline value of Poornathilagam Cross Street is Rs 2,200 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 186 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,083% over the years.

What is the land classification for Poornathilagam Cross Street?

Poornathilagam Cross Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that properties are registered at a value that reflects the current market conditions as per government standards.

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

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