Guideline Value for POST OFFICE STREET (WARD -15)

Post Office Street (Ward -15) guideline value

The current guideline value of Post Office Street (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Post Office Street (Ward -15) has changed

The guideline value for Post Office Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was later reduced to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. In 2023, the value increased to Rs 600 per sq.ft, and the latest revision in 2024 raised it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Post Office Street's 2024 figure below this median.

• Poultry Farm Quarters (Ward -19): Rs 440 per sq.ft (2024)
• Popayar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Poyyamozhi Pulan Street (Per): Rs 1,321 per sq.ft (2024)
• Poongundranar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Poombavaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Ponniamman Koil Street Peramanur (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Post Office Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Post Office Street (Ward -15)?

The Sub Registrar Office that covers Post Office Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Ninna Karai. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall costs associated with property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for Post Office Street (Ward -15)?

The current guideline value for Post Office Street (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Post Office Street (Ward -15)?

The land classification for Post Office Street (Ward -15) is Residential Class I Type - III.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles the registration for Post Office Street (Ward -15)?

The Chengleput Joint II Sub Registrar Office handles the registration for Post Office Street (Ward -15), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.