Guideline Value for POLICE STAFF RESIDENCY

Police Staff Residency guideline value

The current guideline value of Police Staff Residency in Kumaravadi village is Rs 151 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Salavakkam SRO and is classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Police Staff Residency has changed

Over the years, the guideline value for Police Staff Residency has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which was then reduced to Rs 100 per sq.ft in the 2017 revision. Following this, the value increased significantly by 50% to Rs 150 per sq.ft in the 2023 revision, and it has now risen by 1% to Rs 151 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in guideline value has been an increase of 1%. The fluctuations in the guideline value indicate the adjustments made over the years, reflecting changes in land classification and local regulations.

Guideline values in Kumaravadi

In Kumaravadi, there are five streets under the Salavakkam SRO that have a 2024 guideline value, ranging from Rs 150 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 151 per sq.ft, which is the same as the current value for Police Staff Residency.

• Muthu Nagar: Rs 151 per sq.ft (2024)
• Kurunji Nagar: Rs 151 per sq.ft (2024)
• Krishna Nagar: Rs 150 per sq.ft (2024)
• Amber: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Police Staff Residency

For a 1,000 sq.ft plot at the current rate of Rs 151 per sq.ft, the guideline value amounts to Rs 1,51,000. The stamp duty is calculated at 7%, which totals Rs 10,570, while the registration fee is 2%, amounting to Rs 3,020. Together, the total charges would be Rs 13,590. It is important to note that the 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 Police Staff Residency?

The Police Staff Residency is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kumaravadi. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When a property is sold, the guideline value is referenced to ascertain the appropriate fees that need to be paid. This helps maintain transparency and consistency in property transactions, allowing buyers and sellers to understand the financial implications of their dealings.

Frequently asked questions

What is the current guideline value of Police Staff Residency?

The current guideline value of Police Staff Residency is Rs 151 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then to Rs 150 per sq.ft in 2023, and finally to Rs 151 per sq.ft in 2024.

What are the other streets in Kumaravadi with their guideline values?

Other streets in Kumaravadi include Muthu Nagar and Kurunji Nagar at Rs 151 per sq.ft, Krishna Nagar at Rs 150 per sq.ft, and Amber at Rs 700 per sq.ft for 2024.

What are the stamp duty and registration fees for a property in Police Staff Residency?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 13,590, based on the guideline value of Rs 1,51,000.

Which office handles the registration for Police Staff Residency?

The registration for Police Staff Residency is handled by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.