Guideline Value for POLLATCHIAMMAN KOIL STREET

Pollatchiamman Koil Street guideline value

The current guideline value of Pollatchiamman Koil Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Pollatchiamman Koil Street has changed

In the 2012 revision, the guideline value for Pollatchiamman Koil Street was Rs 1,700 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,139 per sq.ft. Following this, the value increased significantly to Rs 1,700 per sq.ft in 2023, and further rose to Rs 1,870 per sq.ft in the 2024 revision. The changes between revisions include a decrease of 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Pollatchiamman Koil Street is below this median.

• Pilliyar Koil Street: Rs 2,750 per sq.ft (2024)
• Ponniamman Koil Cross Street: Rs 1,870 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,870 per sq.ft (2024)
• Ponniamman Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Pollatchiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Pollatchiamman Koil Street?

The Sub Registrar Office that covers Pollatchiamman Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Medavakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps in maintaining transparency and fairness in property transactions. It serves as a reference point for both buyers and sellers, aiding in the negotiation process during property deals.

Frequently asked questions

What is the current guideline value of Pollatchiamman Koil Street?

The current guideline value of Pollatchiamman Koil Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the land classification for Pollatchiamman Koil Street?

The land classification for Pollatchiamman Koil Street is Residential Class III Type - I.

Where can I find the registration office for Pollatchiamman Koil Street?

The registration office for Pollatchiamman Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Pollatchiamman Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 18,70,000, the stamp duty at 7% would amount to Rs 1,30,900.