Guideline Value for Poongavanam Naicken Street Block 78

Poongavanam Naicken Street Block 78 guideline value

The current guideline value of Poongavanam Naicken Street Block 78 is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO and is classified as Residential Class IV Type - II.

How the guideline value of Poongavanam Naicken Street Block 78 has changed

Over the years, the guideline value for Poongavanam Naicken Street Block 78 has undergone several revisions. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, there was a significant drop to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 saw a decrease of 33%. The jump from 2007 to 2012 represented a substantial increase of 275%. Overall, from 2007 to 2024, the guideline value has risen by 313%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value across these streets is Rs 4,900 per sq.ft, placing Poongavanam Naicken Street Block 78's 2024 guideline value below that median.

• Poosti Street Block 81: Rs 3,300 per sq.ft (2024)
• Poppili Raja Street: Rs 7,700 per sq.ft (2024)
• Postal Colony 1st Street: Rs 7,000 per sq.ft (2024)
• Postal Colony 2nd Street: Rs 7,000 per sq.ft (2024)
• Postal Colony 3rd Street (Telepost colony): Rs 7,000 per sq.ft (2024)
• Postal Colony 4th Street: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Poongavanam Naicken Street Block 78

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Poongavanam Naicken Street Block 78?

The Sub Registrar Office that covers Poongavanam Naicken Street Block 78 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which must be paid to the government. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Poongavanam Naicken Street Block 78?

The current guideline value of Poongavanam Naicken Street Block 78 is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 313% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Poongavanam Naicken Street Block 78?

The Ashok Nagar Sub Registrar Office handles property registrations for Poongavanam Naicken Street Block 78, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

The guideline value is used to determine the minimum registration value for properties, which affects the stamp duty and registration fees payable during a transaction.