Guideline Value for Tamil Poonga Street

Tamil Poonga Street guideline value

The current guideline value of Tamil Poonga Street in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Tamil Poonga Street has changed

The guideline value for Tamil Poonga Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, it saw a decrease to Rs 1,541 per sq.ft in 2017. The value then rose to Rs 2,300 per sq.ft in 2023, and currently stands at Rs 2,530 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

Between the revisions, the most notable change was from 2007 to 2012, which saw an increase of 475%. The value then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 533%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Tamil Poonga Street's 2024 figure above that median.

• Thanthai Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Sumit Lane: Rs 2,530 per sq.ft (2024)
• Sudhananda Bharati Street: Rs 3,850 per sq.ft (2024)
• Thilagavathi 2nd Street: Rs 2,530 per sq.ft (2024)
• Thilagavathi Main Road: Rs 2,530 per sq.ft (2024)
• Thilagavathi Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Tamil Poonga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. 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 information.

Which Sub Registrar Office covers Tamil Poonga Street?

Tamil Poonga Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these charges are based on the higher of the guideline value and the actual sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Tamil Poonga Street?

The current guideline value of Tamil Poonga Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, showing a significant increase over the years, with a notable rise of 533% overall from 2007 to 2024.

What are the stamp duty and registration fees for property in Tamil Poonga Street?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which Sub Registrar Office handles transactions for Tamil Poonga Street?

The Tambaram Joint 1 Sub Registrar Office handles transactions for Tamil Poonga Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Tamil Poonga Street?

Tamil Poonga Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.