Guideline Value for Poovai devadas nagar

Poovai devadas nagar guideline value

The current guideline value of Poovai devadas nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Poovai devadas nagar has changed

Over the years, the guideline value of Poovai devadas nagar has seen significant changes. The earliest recorded revision was in 2007, where the guideline value was Rs 400 per sq.ft. This figure increased dramatically to Rs 2,000 per sq.ft in the 2012 revision, marking a 400% increase. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value for Poovai devadas nagar.

• Ponniamman Nagar Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Ponniamman nagar: Rs 2,200 per sq.ft (2024)
• Police station road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Poovai devadas nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Poovai devadas nagar?

The Sub Registrar Office that covers Poovai devadas nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration process is transparent and standardized. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership.

Additionally, the guideline value helps in assessing the market conditions and provides a reference point for both buyers and sellers during negotiations. It is important to be aware of the current guideline value to make informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Poovai devadas nagar?

The current guideline value of Poovai devadas nagar 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 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450%.

What are the stamp duty and registration fees for property in Poovai devadas nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 1,98,000.

Which Sub Registrar Office covers Poovai devadas nagar?

The Poonamallee Sub Registrar Office covers Poovai devadas nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification of Poovai devadas nagar?

Poovai devadas nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.