Guideline Value for Queen victoria road

Queen victoria road guideline value

The current guideline value of Queen Victoria Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Poonthamallee village and falls under the Poonamallee SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Queen victoria road has changed

The guideline value for Queen Victoria Road has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft by 2012, marking a 233% rise. However, this value dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The next revision in 2023 saw a substantial increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 brought it to Rs 2,200 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, which matches the current value for Queen Victoria Road.

• Raja Agraharam street: Rs 2,740 per sq.ft (2024)
• Poovai devadas nagar: Rs 2,200 per sq.ft (2024)
• Raja nagar: Rs 2,200 per sq.ft (2024)
• Rajarathinam salai: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar Cross Street: Rs 2,200 per sq.ft (2024)
• Ponniamman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Queen victoria road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, 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 Queen victoria road?

The Sub Registrar Office that covers Queen Victoria Road is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling a property, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Queen Victoria Road?

The current guideline value of Queen Victoria Road 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 from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a significant increase of 267% overall.

What are the stamp duty and registration fees for properties on Queen Victoria Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Queen Victoria Road?

The Poonamallee Sub Registrar Office handles registrations for Queen Victoria Road, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Queen Victoria Road?

The land classification for Queen Victoria Road is Residential Class II Type - I, indicating its suitability for residential purposes.