Guideline Value for Post office street

Post office street guideline value

The current guideline value of Post office street in Ikkadu village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Post office street has changed

In the 2007 revision, the guideline value was set at Rs 50 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 500 per sq.ft, marking a 900% increase. The 2017 revision recorded a decrease to Rs 335 per sq.ft, which was a decline of 33%. The guideline value then increased to Rs 500 per sq.ft in the 2024 revision, showing a 49% increase from the 2017 figure. The 2023 revision also maintained the value at Rs 500 per sq.ft, reflecting no change from the previous year.

The register has no figures for the years 2002 and 2003 for Post office street. Overall, from 2007 to 2024, the guideline value has increased by 900%.

Guideline values in Ikkadu

In Ikkadu, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,400 per sq.ft. The median guideline value in this area is Rs 400 per sq.ft, placing Post office street's 2024 figure above that median.

• Oothavadai Street: Rs 400 per sq.ft (2024)
• Sai Jayaram Nagar: Rs 400 per sq.ft (2024)
• New.M.O. Sampath Nagar: Rs 500 per sq.ft (2024)
• Sakthi Nagar: Rs 500 per sq.ft (2024)
• New Ganapathi Nagar: Rs 500 per sq.ft (2024)
• Sinivasa Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Post office street

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Post office street?

The Post office street is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process for property transactions in Ikkadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which ensures that the state collects the appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value of Post office street?

The current guideline value of Post office street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 50 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and finally returning to Rs 500 per sq.ft in 2024.

What is the land classification of Post office street?

Post office street is classified as Residential Class II Type - I under the Tiruvallur Joint 1 SRO.

What are the other streets in Ikkadu with their guideline values?

Other streets in Ikkadu include Oothavadai Street and Sai Jayaram Nagar at Rs 400 per sq.ft, and New.M.O. Sampath Nagar, Sakthi Nagar, New Ganapathi Nagar, and Sinivasa Nagar at Rs 500 per sq.ft.

Where can I find the Sub Registrar Office for Post office street?

The Sub Registrar Office covering Post office street is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.