Guideline Value for Postal Audit Colony

Postal Audit Colony guideline value

The current guideline value of Postal Audit Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village, falling under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Postal Audit Colony has changed

The guideline value for Postal Audit Colony has seen several revisions over the years. In 2002, the value was Rs 512 per sq.ft, which increased to Rs 559 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 850 per sq.ft in 2007, reflecting a 52% increase. Following this, in 2012, the value was recorded at Rs 4,000 per sq.ft, which was a substantial 371% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. The value then increased again to Rs 4,000 per sq.ft in 2023, and most recently, it has risen to Rs 4,400 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 759%. There are no figures available for revisions in the years not listed in the register for this street.

Guideline values in Saligramam

In Saligramam, there are a total of 333 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value for Postal Audit Colony.

• Prem Nagar (Bharathi Street.): Rs 3,300 per sq.ft (2024)
• Ponniamman Koil Street: Rs 3,300 per sq.ft (2024)
• Ponnammal Street: Rs 4,400 per sq.ft (2024)
• Purushothaman Street: Rs 3,300 per sq.ft (2024)
• Pushpa Colony: Rs 4,400 per sq.ft (2024)
• Puviyathamman Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Postal Audit Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, calculated 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Postal Audit Colony?

The Postal Audit Colony is covered by 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 Saligramam

The guideline value plays a crucial role during property registration in Saligramam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration process requires that the property be valued at either the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Postal Audit Colony?

The current guideline value of Postal Audit Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, a 10% rise.

What is the land classification of Postal Audit Colony?

Postal Audit Colony is classified as Residential Class II Type - I.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Postal Audit Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 4,400 per sq.ft would incur a stamp duty of Rs 3,08,000.