Guideline Value for Polatchiyamman Koil Street

Polatchiyamman Koil Street guideline value

The current guideline value of Polatchiyamman Koil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Sumanthiram Pedu village, under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Polatchiyamman Koil Street has changed

The guideline value for Polatchiyamman Koil Street has seen several revisions over the years. In 2012, the value was set at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, this figure increased significantly by 49% to Rs 200 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Sumanthiram Pedu

In Sumanthiram Pedu, there are a total of 8 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which aligns with the guideline value of Polatchiyamman Koil Street.

• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Krishna Nagar: Rs 300 per sq.ft (2024)
• Kamachiamman Nagar: Rs 400 per sq.ft (2024)
• Vinayagar Koil 1st Street: Rs 200 per sq.ft (2024)
• Vinayagar Koil 2nd Street: Rs 200 per sq.ft (2024)
• Mgr Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Polatchiyamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Polatchiyamman Koil Street?

The Sub Registrar Office that covers Polatchiyamman Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical component in the property registration process in Sumanthiram Pedu. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Polatchiyamman Koil Street?

The current guideline value of Polatchiyamman Koil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a drop to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Sumanthiram Pedu with their guideline values?

Other streets in Sumanthiram Pedu have guideline values ranging from Rs 150 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is the same as Polatchiyamman Koil Street.

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

Stamp duty is charged at 7% and the registration fee at 2% of the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot would incur a total of Rs 18,000 in duties and fees based on the current guideline value.

Where can I find the Sub Registrar Office for Polatchiyamman Koil Street?

The Sub Registrar Office covering Polatchiyamman Koil Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.