Guideline Value for Poosti Street Block 81

Poosti Street Block 81 guideline value

The current guideline value of Poosti Street Block 81 is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Poosti Street Block 81 has changed

Over the years, the guideline value of Poosti Street Block 81 has seen several revisions. The 2007 revision recorded a value of Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, there was a decrease to Rs 2,010 per sq.ft in the 2017 revision. The guideline value then rose to Rs 3,000 per sq.ft in the 2023 revision, before reaching the current value of Rs 3,300 per sq.ft in the 2024 revision.

From the 2017 to 2023 revision, the guideline value increased by 49%. The 2023 to 2024 revision reflects a 10% increase. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 313%. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 4,900 per sq.ft. The guideline value of Poosti Street Block 81 is below this median.

• Poppili Raja Street: Rs 7,700 per sq.ft (2024)
• Poongavanam Naicken Street Block 78: Rs 3,300 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 Poosti Street Block 81

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 cost for these 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poosti Street Block 81?

The Sub Registrar Office that covers Poosti Street Block 81 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 details.

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

The guideline value is an essential factor when registering property transactions in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which the property must be registered. This ensures transparency and fairness in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Poosti Street Block 81?

The current guideline value of Poosti Street Block 81 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, reflecting an overall increase of 313% over the years.

What is the land classification for Poosti Street Block 81?

Poosti Street Block 81 is classified as Residential Class IV Type - II.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with Poosti Street Block 81's value being below this median.

Where is the Sub Registrar Office located for Poosti Street Block 81?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.