Guideline Value for Pompozhil Nager Kothavari Street

Pompozhil Nager Kothavari Street guideline value

The current guideline value of Pompozhil Nager Kothavari Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Pompozhil Nager Kothavari Street has changed

The guideline value for Pompozhil Nager Kothavari Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, indicating that the guideline value for Pompozhil Nager Kothavari Street is above this median.

• Pompozhil Nager Kaveri Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Krishna Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Kanagambaram Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Kuranchi Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Gangai Street: Rs 1,100 per sq.ft (2024)
• Pompozhil Nager Magizhambu Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pompozhil Nager Kothavari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pompozhil Nager Kothavari Street?

The Sub Registrar Office that covers Pompozhil Nager Kothavari Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher value 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 Pompozhil Nager Kothavari Street?

The current guideline value of Pompozhil Nager Kothavari Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value has seen various fluctuations since 2012.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Pompozhil Nager Kothavari Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total costs can be calculated based on the guideline value.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the correct amount of revenue is collected by the government based on the property's assessed value.