Guideline Value for POST OFFICE ROAD & STREET

Post Office Road & Street guideline value

The current guideline value of Post Office Road & Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class I Type - I.

How the guideline value of Post Office Road & Street has changed

The guideline value for Post Office Road & Street has seen significant changes over the years. In 2003, the value was Rs 111 per sq.ft, which increased dramatically to Rs 800 per sq.ft by 2007. This was followed by a substantial rise to Rs 4,000 per sq.ft in 2012, but then it dropped to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024. Notably, the register has no figure for this street for the year 2002.

From 2017 to 2023, there was a 49% increase, and from 2023 to 2024, the value rose by 10%. The most significant increase occurred from 2003 to 2007, with a rise of 621%. Overall, from 2003 to 2024, the guideline value has increased by 3864%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Post Office Road & Street above this median at Rs 4,400 per sq.ft.

• Prabhu Nagar: Rs 1,700 per sq.ft (2024)
• Prime Phase-1: Rs 5,000 per sq.ft (2024)
• Prime Phase-II: Rs 5,500 per sq.ft (2024)
• Ptc Quarters 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Ptc Quarters 1st Main Road: Rs 3,300 per sq.ft (2024)
• Ptc Quarters 2nd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Post Office Road & Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Post Office Road & Street?

The Sub Registrar Office that covers Post Office Road & Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When selling a property, the guideline value helps establish a baseline for negotiations and can influence the sale price. Buyers and sellers should be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Post Office Road & Street?

The current guideline value of Post Office Road & Street is Rs 4,400 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 111 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Post Office Road & Street being above this median at Rs 4,400 per sq.ft.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Post Office Road & Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41.