Guideline Value for POWDEN STREET

Powden Street guideline value

The current guideline value of Powden Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Powden Street has changed

The guideline value for Powden Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a remarkable rise of 400%. However, the value then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 3,500 per sq.ft, a gain of 49%. Now, with the latest revision in 2024, the guideline value stands at Rs 3,800 per sq.ft, which is an increase of 9% from the previous year.

It is important to note that there are no figures available for Powden Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 443%.

Guideline values in Perambur

In Perambur, 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. Powden Street's 2024 guideline value of Rs 3,800 per sq.ft is above this median.

• Praksh Colony: Rs 3,200 per sq.ft (2024)
• Pudhu Nagar All Street (New Nagar): Rs 4,300 per sq.ft (2024)
• Pulianthope High Road(From B&C Mill To Pulianthope T.B Hospital): Rs 4,900 per sq.ft (2024)
• Ponnappan Lane: Rs 3,800 per sq.ft (2024)
• Ponnappa Mudali Street: Rs 3,800 per sq.ft (2024)
• Puzhal Murugesan Street: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Powden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Powden Street?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid based on the property's value.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Powden Street?

The current guideline value of Powden Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Powden Street has changed from Rs 700 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 443% over the years.

What is the land classification of Powden Street?

Powden Street is classified as Residential Class II Type - II, which is relevant for property development and transactions in the area.

What are the registration fees for property in Powden Street?

The registration fees for a property in Powden Street are calculated based on the guideline value and include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Powden Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Powden Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.