Guideline Value for POLU NAICKEN STREET

Polu Naicken Street guideline value

The current guideline value of Polu Naicken Street is Rs 4,900 per sq.ft. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Polu Naicken Street has changed

The guideline value for Polu Naicken Street has seen several revisions over the years. In 2003, the value was Rs 369 per sq.ft, which increased significantly to Rs 550 per sq.ft in 2007. The value then rose dramatically to Rs 4,500 per sq.ft in 2012, but fell to Rs 3,015 per sq.ft in 2017. Following that, it increased to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft effective from 1 July 2024. The register has no figure for this street in 2002.

From 2017 to 2023, the guideline value increased by 49%. The value rose by 9% from 2023 to 2024. Notably, there was a remarkable increase of 718% between 2007 and 2012. Overall, from 2003 to 2024, the guideline value has increased by 1228%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Polu Naicken Street is above this median.

• Polaramman Street: Rs 3,200 per sq.ft (2024)
• Ponnappa Mudali Street: Rs 3,800 per sq.ft (2024)
• Ponnappan Lane: Rs 3,800 per sq.ft (2024)
• Pichandi Street: Rs 2,700 per sq.ft (2024)
• Powden Street: Rs 3,800 per sq.ft (2024)
• Praksh Colony: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Polu Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Polu Naicken Street?

The Sub Registrar Office that covers Polu Naicken Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process of buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction price. Buyers and sellers must consider this value to ensure that they are meeting the legal requirements for registration and taxation.

Frequently asked questions

What is the current guideline value of Polu Naicken Street?

The current guideline value of Polu Naicken Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 369 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, representing an increase of 1228% overall.

What is the land classification for Polu Naicken Street?

Polu Naicken Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties on Polu Naicken Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000.