Guideline Value for Police Quarters

Police Quarters guideline value

The current guideline value of Police Quarters in Kodambakkam village, under the Ashok Nagar SRO, is Rs 7,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Police Quarters has changed

The guideline value for Police Quarters has seen several revisions over the years. In 2007, the value was set at Rs 3,800 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012. However, this value then decreased to Rs 4,690 per sq.ft in 2017. The 2023 revision raised the value to Rs 7,000 per sq.ft, and the most recent revision in 2024 has established it at Rs 7,600 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a significant increase of 49%. The transition from 2023 to 2024 reflects a 9% increase. Notably, from 2007 to 2024, the overall increase in guideline value is 100%, highlighting the fluctuations in property values over the years.

Guideline values in Kodambakkam

Kodambakkam contains 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing the Police Quarters guideline value above this median.

• Police Qtrs 61st Street: Rs 4,100 per sq.ft (2024)
• Police Qtrs 34th Street: Rs 4,100 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 Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 7,600 per sq.ft, the total guideline value amounts to Rs 76,00,000. The stamp duty at 7% would be Rs 5,32,000, and the registration fee at 2% would be Rs 1,52,000, totaling Rs 6,84,000. It is important to note that the 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 Quarters?

The Police Quarters area is covered by 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 an essential factor in the registration process of property transactions in Kodambakkam. It determines the minimum value at which properties can be registered, which in turn affects the stamp duty and registration fees payable by the buyer.

When buying or selling property, the guideline value serves as a benchmark for determining the official sale price. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Police Quarters?

The current guideline value of Police Quarters is Rs 7,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,800 per sq.ft in 2007 to Rs 7,600 per sq.ft in 2024, reflecting an overall increase of 100% over the years.

What are the stamp duty and registration fees for properties in Police Quarters?

For a property valued at Rs 76,00,000, the stamp duty would be Rs 5,32,000 and the registration fee would be Rs 1,52,000, totaling Rs 6,84,000.

Which Sub Registrar Office covers the Police Quarters area?

The Ashok Nagar Sub Registrar Office covers the Police Quarters area, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Police Quarters being above this median at Rs 7,600 per sq.ft.