Guideline Value for Police Qtrs 61st Street

Police Qtrs 61st Street guideline value

The current guideline value of Police Qtrs 61st Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Police Qtrs 61st Street has changed

The guideline value for Police Qtrs 61st Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,210 per sq.ft. It increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 210%. However, in 2017, the value decreased to Rs 2,512 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,100 per sq.ft, which is an increase of 9% from the previous year. The register has no figures for this street for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 239%. The changes between the revisions highlight the fluctuations in property valuation over the years, with the most recent figure indicating a steady rise in value.

Guideline values in Kodambakkam

Kodambakkam village has a range of guideline values, with 1,031 streets under the Ashok Nagar SRO carrying a 2024 figure between Rs 2,200 and Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Police Qtrs 61st Street's 2024 figure below that median.

• Police Qtrs 34th Street: Rs 4,100 per sq.ft (2024)
• Police Quarters: Rs 7,600 per sq.ft (2024)
• Ponmanasemmal Street S.No.394/2: Rs 2,700 per sq.ft (2024)
• Ponnambalam Salai: Rs 8,800 per sq.ft (2024)
• Ponnammal Nagar: Rs 4,100 per sq.ft (2024)
• Pilliaiyar Koil Street Block 91, 92: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Police Qtrs 61st Street

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. Please 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 Police Qtrs 61st Street?

The Sub Registrar Office that covers Police Qtrs 61st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees associated with the purchase or sale of property. Buyers and sellers must consider this value to ensure compliance with legal requirements when registering property transactions.

When a property is bought or sold, the guideline value helps in assessing the official value of the property, which is necessary for calculating the applicable fees. This ensures that all transactions are conducted transparently and in accordance with local regulations.

Frequently asked questions

What is the current guideline value for Police Qtrs 61st Street?

The current guideline value for Police Qtrs 61st Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 239% over the years.

What is the registration office for Police Qtrs 61st Street?

The registration office for Police Qtrs 61st Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 41,00,000, the stamp duty would be calculated at 7% of that amount.

What are the guideline values for other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. Police Qtrs 34th Street and Ponnammal Nagar share the same guideline value as Police Qtrs 61st Street at Rs 4,100 per sq.ft.