Guideline Value for Poosala Gengu Reddy street

Poosala Gengu Reddy street guideline value

The current guideline value of Poosala Gengu Reddy street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Poosala Gengu Reddy street has changed

The guideline value for Poosala Gengu Reddy street has seen several revisions over the years. In 2002, the value was Rs 869 per sq.ft, which increased to Rs 958 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft. The most recent revisions show an increase to Rs 6,500 per sq.ft in 2023 and a further rise to Rs 7,100 per sq.ft in 2024.

Between 2023 and 2024, there was an increase of 9%. From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%. Notably, the value surged by 333% from 2007 to 2012 and increased by 57% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 717%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which matches the current value for Poosala Gengu Reddy street.

• Poosala Boopathy Nagar: Rs 7,100 per sq.ft (2024)
• Post Audit road: Rs 7,100 per sq.ft (2024)
• Poonamallee High road (or) E.V.R. Salai: Rs 18,100 per sq.ft (2024)
• Poonamallee High road lane E.V.R. Lane: Rs 13,500 per sq.ft (2024)
• Prof. Subramaniam Street: Rs 8,300 per sq.ft (2024)
• Ponniamman street: Rs 18,100 per sq.ft (2024)

Stamp duty and registration fee for property in Poosala Gengu Reddy street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Poosala Gengu Reddy street?

The Sub Registrar Office that covers Poosala Gengu Reddy street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Egmore. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a standard value, which helps maintain transparency and fairness in property dealings. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Poosala Gengu Reddy street?

The current guideline value of Poosala Gengu Reddy street is Rs 7,100 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 869 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 717% over this period.

What is the registration office for Poosala Gengu Reddy street?

The registration office for Poosala Gengu Reddy street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty for a property valued at Rs 71,00,000 would be Rs 4,97,000.

Where can I find more information about guideline values in Egmore?

For more information about guideline values in Egmore, you can refer to the Registration Department's guideline value register or consult the relevant links for other streets in Egmore.