Guideline Value for OLD POST OFFICE STREET

Old Post Office Street guideline value

The current guideline value of Old Post Office Street in Karunguzhi village is Rs 401 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam SRO and is classified as Mixed Type - I land.

How the guideline value of Old Post Office Street has changed

The guideline value for Old Post Office Street has seen several revisions over the years. The 2007 revision set the value at Rs 80 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, it dropped to Rs 268 per sq.ft in 2017. The 2023 revision saw a slight increase to Rs 400 per sq.ft, and the most recent 2024 revision has set it at Rs 401 per sq.ft, indicating no percentage change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 401%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 401 to Rs 1,000 per sq.ft. The median value is Rs 401 per sq.ft, which is the same as the guideline value for Old Post Office Street.

• North Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Ottha Vaadai Street: Rs 401 per sq.ft (2024)
• PALLA PETTAI (a) KAIKKOLAR PETTAI: Rs 600 per sq.ft (2024)
• Navidhar Street: Rs 401 per sq.ft (2024)
• Parvatha Rajagula Street: Rs 401 per sq.ft (2024)
• Pattai Street: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Old Post Office Street

For a 1,000 sq.ft plot at the current rate of Rs 401 per sq.ft, the guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, totaling Rs 36,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Old Post Office Street?

The Sub Registrar Office that covers Old Post Office Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Karunguzhi. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value when negotiating the sale price, as it affects the overall cost of the transaction.

When registering a property, the guideline value is assessed to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in real estate dealings within the region.

Frequently asked questions

What is the current guideline value of Old Post Office Street?

The current guideline value of Old Post Office Street is Rs 401 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 80 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, marking an overall increase of 401%.

What are the other streets with the same guideline value in Karunguzhi?

Other streets in Karunguzhi with the same guideline value of Rs 401 per sq.ft include North Pillayar Koil Street, Ottha Vaadai Street, Navidhar Street, Parvatha Rajagula Street, and Pattai Street.

What is the stamp duty rate for properties in Old Post Office Street?

The stamp duty rate for properties in Old Post Office Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Old Post Office Street?

The Sub Registrar Office for Old Post Office Street is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.