Guideline Value for Phugazhandhi Pallam(Phugazhandhi Street)

Phugazhandhi Pallam(Phugazhandhi Street) guideline value

The current guideline value of Phugazhandhi Pallam(Phugazhandhi Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Phugazhandhi Pallam(Phugazhandhi Street) has changed

The guideline value for Phugazhandhi Pallam(Phugazhandhi Street) has seen several revisions over the years. The 2007 revision set the value at Rs 620 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 384%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. The subsequent 2023 revision raised the value to Rs 3,000 per sq.ft, followed by the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that Phugazhandhi Pallam(Phugazhandhi Street) is below this median value.

• Phugazhandhi Pallam Extension(M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Perumal Koil (West Mada Street) (W.M): Rs 4,900 per sq.ft (2024)
• Perumal Koil Street Block 90: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Phugazhandhi Pallam(Phugazhandhi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Phugazhandhi Pallam(Phugazhandhi Street)?

The Sub Registrar Office that covers Phugazhandhi Pallam(Phugazhandhi Street) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used as a reference point for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Phugazhandhi Pallam(Phugazhandhi Street)?

The current guideline value of Phugazhandhi Pallam(Phugazhandhi Street) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 432% over this period.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft as of 2024, with Phugazhandhi Pallam(Phugazhandhi Street) being below this median.

What are the stamp duty rates for properties in Phugazhandhi Pallam?

The stamp duty rate for properties in Phugazhandhi Pallam is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Phugazhandhi Pallam located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.