Guideline Value for NEW WEST STREET

New West Street guideline value

The current guideline value of New West Street in Puliyur village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam SRO and is classified as Residential Class IV Type - II.

How the guideline value of New West Street has changed

The guideline value for New West Street has seen several revisions over the years. In 2002, the value was Rs 750 per sq.ft, which increased to Rs 824 per sq.ft in 2003. The value then rose significantly to Rs 1,050 per sq.ft in 2007, followed by a substantial jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The guideline value then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision.

The changes in the guideline value reflect various increments and decrements. From 2017 to 2023, there was a notable increase of 49%. The rise from 2007 to 2012 was 281%, while the value fell by 33% from 2012 to 2017. The overall change from 2002 to 2024 is an increase of 487%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing New West Street's current value below this median.

• New Vellala Street: Rs 5,300 per sq.ft (2024)
• N.G.O. Colony 1st Cross Street: Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 1st Main Road(Choolaimedu): Rs 5,300 per sq.ft (2024)
• N.G.O. Colony 1 St Street (Vadapalani): Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 2nd Cross Street (Choolaimedu): Rs 4,400 per sq.ft (2024)
• N.G.O. Colony 2nd Main Road (Choolaimedu): Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in New West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers New West Street?

The Sub Registrar Office that covers New West Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Puliyur. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration process.

During the registration of a property, the guideline value is considered to ensure that the correct fees are applied. This value serves as a benchmark for transactions, helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of New West Street?

The current guideline value of New West Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 750 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting various increments and decrements over the years.

What is the classification of New West Street?

New West Street is classified as Residential Class IV Type - II under the Kodambakkam SRO.

What are the stamp duty and registration fees for properties in New West Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for New West Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.