Guideline Value for Sweeper line

Sweeper line guideline value

The current guideline value of Sweeper line in Poonthamallee village is Rs 2,200 per sq.ft, effective from 1 July 2024. This falls under the Poonamallee Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Sweeper line has changed

The guideline value for Sweeper line has seen significant changes over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 raised it to Rs 2,200 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 633%. The change from 2012 to 2017 saw a decrease of 33%, while from 2017 to 2023, there was a notable increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO with 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 aligns with the current value of Sweeper line.

• Tamizh nagar: Rs 2,200 per sq.ft (2024)
• Tangaal kaarai kosa street: Rs 2,200 per sq.ft (2024)
• Tangaal Kaarai Mettu Street: Rs 2,200 per sq.ft (2024)
• Tangaal kaarai vaaniya street: Rs 2,200 per sq.ft (2024)
• Sundar Nagar Extension: Rs 2,210 per sq.ft (2024)
• Sundar nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sweeper line

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sweeper line?

The Sweeper line falls under 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

When buying or selling property in Poonthamallee, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. This value is utilized to assess the transaction's worth for legal and taxation purposes.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the property is registered at a fair value, reflecting its market position. This value is set by the government and is updated periodically to reflect changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of Sweeper line?

The current guideline value of Sweeper line 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 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification for Sweeper line?

Sweeper line is classified as Residential Class II Type - I under the Poonamallee SRO.

Where is the Poonamallee Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Sweeper line?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.