Guideline Value for Poornathilagam1st Street

Poornathilagam1st Street guideline value

The current guideline value of Poornathilagam1st 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 Poornathilagam1st Street has changed

Over the years, the guideline value of Poornathilagam1st Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,010 per sq.ft. The 2023 revision increased the guideline value to Rs 3,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the revisions in 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, there are a total of 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 equal to the 2024 figure for Poornathilagam1st Street.

• Poornathilagam 2nd 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 Poornathilagam1st 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, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poornathilagam1st Street?

The Sub Registrar Office that covers Poornathilagam1st 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 a crucial factor in the registration process when buying or selling property in Tambaram. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Poornathilagam1st Street?

The current guideline value of Poornathilagam1st 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 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Poornathilagam1st Street?

The land classification for Poornathilagam1st Street is Residential Class I Type - I. This classification indicates the type of development allowed in the area.

Where can I find the registration office for Poornathilagam1st Street?

The registration office for Poornathilagam1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Tambaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.