Guideline Value for Poovarasam Poo street

Poovarasam Poo street guideline value

The current guideline value of Poovarasam Poo street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Araneri village under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Poovarasam Poo street has changed

Over the years, the guideline value of Poovarasam Poo street has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was Rs 201 per sq.ft, marking a decrease of 33% from the 2012 figure. The 2023 revision also maintained the value at Rs 300 per sq.ft, and the 2024 revision continues this trend with no change, as it is also set at Rs 300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft. This consistency highlights the stability of the value in recent years.

Guideline values in Araneri

In Araneri village, there are nine streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 471 per sq.ft. The median value among these streets is Rs 300 per sq.ft, which is equal to the guideline value of Poovarasam Poo street. Below are the other streets in Araneri:

• Patturosa Poo Street: Rs 300 per sq.ft (2024)
• Om Sakthi Nagar: Rs 300 per sq.ft (2024)
• Kanagambaram Poo Street: Rs 300 per sq.ft (2024)
• Thazhampoo Street: Rs 300 per sq.ft (2024)
• Vadamalli Poo Street: Rs 300 per sq.ft (2024)
• Ishwarya Forms & Resorts: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Poovarasam Poo street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total charges Rs 27,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poovarasam Poo street?

The Sub Registrar Office that covers Poovarasam Poo street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Araneri. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. It serves as a benchmark for the value of the property being registered.

During registration, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue based on the property's assessed value, which is essential for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Poovarasam Poo street?

The current guideline value of Poovarasam Poo street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions in 2012, 2017, 2023, and 2024. It was Rs 300 per sq.ft in 2012, decreased to Rs 201 per sq.ft in 2017, then returned to Rs 300 per sq.ft in the following revisions.

What is the land classification for Poovarasam Poo street?

Poovarasam Poo street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Poovarasam Poo street?

The stamp duty rate for property transactions in Poovarasam Poo street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Poovarasam Poo street located?

The Sub Registrar Office covering Poovarasam Poo street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.