Guideline Value for Vathukaar street

Vathukaar street guideline value

The current guideline value of Vathukaar street is Rs 2,200 per sq.ft. It is located in Poonthamallee village, under the Poonamallee SRO, and classified as Residential Class II Type - I.

How the guideline value of Vathukaar street has changed

The guideline value for Vathukaar street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it dropped 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.

From 2007 to 2024, the overall increase in guideline value is 633%. The changes between revisions include a 567% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. 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 carry 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 Vathukaar street's 2024 figure.

• Vedhathiri Bhavan: Rs 2,200 per sq.ft (2024)
• Vasanthapuri phase I & II: Rs 2,200 per sq.ft (2024)
• Vanniar street (east): Rs 2,200 per sq.ft (2024)
• Vaithiswaran Nagar: Rs 2,200 per sq.ft (2024)
• Vaitheeswaran koil street: Rs 2,740 per sq.ft (2024)
• Vaidthee Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vathukaar street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, making the total Rs 1,98,000. 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 more details.

Which Sub Registrar Office covers Vathukaar street?

The Sub Registrar Office that covers Vathukaar street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee 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 is a crucial factor when buying or selling property in Poonthamallee. It determines the stamp duty and registration fees applicable during the transaction, ensuring that the government receives the appropriate revenue from property transfers.

When registering a property, the guideline value serves as a benchmark for the transaction value. Buyers and sellers must consider this value to calculate the total costs involved in the registration process accurately.

Frequently asked questions

What is the current guideline value of Vathukaar street?

The current guideline value of Vathukaar street 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 are the other streets in Poonthamallee with the same guideline value?

Other streets in Poonthamallee with a guideline value of Rs 2,200 per sq.ft include Vedhathiri Bhavan, Vasanthapuri phase I & II, Vanniar street (east), Vaithiswaran Nagar, and Vaidthee Nagar.

What fees are associated with buying property on Vathukaar street?

When buying property on Vathukaar street, buyers should consider the stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Vathukaar street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find more details online.