Guideline Value for P.A. Koil 2nd Street

P.A. Koil 2nd Street guideline value

The current guideline value of P.A. Koil 2nd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village, under the jurisdiction of the Redhills SRO, and is classified as Residential Special Type - I.

How the guideline value of P.A. Koil 2nd Street has changed

The guideline value for P.A. Koil 2nd Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 128 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 213%. The 2012 revision saw a decrease to Rs 2,200 per sq.ft, a drop of 33%. However, the value rebounded to Rs 1,474 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 2,200 per sq.ft, and the current 2024 revision has increased it again to Rs 2,420 per sq.ft, which is a 10% rise.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1,791%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, placing P.A. Koil 2nd Street's 2024 figure above that median.

• P.A. Koil 3rd Street: Rs 2,420 per sq.ft (2024)
• P.A. Koil First Street: Rs 2,420 per sq.ft (2024)
• Padmavathi Nagar: Rs 1,102 per sq.ft (2024)
• Padma Nagar: Rs 1,100 per sq.ft (2024)
• Padmanaba Nagar: Rs 1,100 per sq.ft (2024)
• Othavaadai Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in P.A. Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total fees together Rs 2,17,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers P.A. Koil 2nd Street?

The Sub Registrar Office that covers P.A. Koil 2nd Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value is assessed to ensure that the transaction is in line with government regulations. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of P.A. Koil 2nd Street?

The current guideline value of P.A. Koil 2nd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 128 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 1,791%.

What are the stamp duty and registration fees for property in P.A. Koil 2nd Street?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles property registrations for P.A. Koil 2nd Street?

The Redhills Sub Registrar Office handles property registrations for P.A. Koil 2nd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring compliance with government regulations and maintaining transparency in the process.