Guideline Value for P.A. Koil First Street

P.A. Koil First Street guideline value

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

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

The guideline value for P.A. Koil First Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 128 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a 213% rise. The value then surged to Rs 2,200 per sq.ft in 2012, reflecting a substantial increase of 450%. However, it dropped to Rs 1,474 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw the value rise to Rs 2,200 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,420 per sq.ft, an increase of 10%.

It is important to note that there is no recorded guideline value for P.A. Koil First Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by a remarkable 1791%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing P.A. Koil First Street's 2024 figure above this median.

• P.A. Koil 3rd Street: Rs 2,420 per sq.ft (2024)
• P.A. Koil 2nd 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 First 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, while the registration fee at 2% would be Rs 48,400. Together, the total cost for these fees would be Rs 2,17,800. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers P.A. Koil First Street?

The Sub Registrar Office that covers P.A. Koil First 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 information.

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 must be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of P.A. Koil First 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 seen significant changes, starting from Rs 128 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 1791% over this period.

What is the median guideline value for streets in Puzhal?

The median guideline value for streets in Puzhal is Rs 1,102 per sq.ft, with P.A. Koil First Street's value being above this median.

How is stamp duty calculated for property in P.A. Koil First Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at 7%.

Where is the Sub Registrar Office for P.A. Koil First Street located?

The Sub Registrar Office for P.A. Koil First Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.