Guideline Value for Poolakshi Street

Poolakshi Street guideline value

The current guideline value of Poolakshi Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Poolakshi Street has changed

Looking at the revisions, the guideline value for Poolakshi Street was Rs 4,000 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision saw an increase to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2023 revision did not see any change in the guideline value from the 2012 figure, maintaining Rs 4,000 per sq.ft.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, making Poolakshi Street's 2024 figure above this median.

• Prakasam Street: Rs 4,400 per sq.ft (2024)
• P.N. Ramamurthy Street: Rs 3,850 per sq.ft (2024)
• Play ground Street: Rs 3,850 per sq.ft (2024)
• P. Krishnan Street: Rs 4,400 per sq.ft (2024)
• Radha Avenue 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Radha Avenue 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Poolakshi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Poolakshi Street?

The Sub Registrar Office that covers Poolakshi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This system helps maintain transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Poolakshi Street?

The current guideline value of Poolakshi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Poolakshi Street has increased from Rs 4,000 per sq.ft in 2012 and 2023 to Rs 4,400 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2017.

What is the land classification for Poolakshi Street?

Poolakshi Street is classified as Residential Class I Type - II, which indicates its use for residential purposes.

What is the registration office for properties in Poolakshi Street?

The registration office for properties in Poolakshi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Poolakshi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.