Guideline Value for Postal Colony 4th Street

Postal Colony 4th Street guideline value

The current guideline value of Postal Colony 4th Street is Rs 7,000 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 Special Type - III.

How the guideline value of Postal Colony 4th Street has changed

The guideline value for Postal Colony 4th Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 2,580 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2012 revision. However, there was a significant decrease to Rs 4,355 per sq.ft in the 2017 revision. Moving to the 2023 revision, the value rose to Rs 6,500 per sq.ft, and it further increased to Rs 7,000 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 171%. It is important to note that there are no figures available for the years 2002 and 2003 in the register 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 value of Rs 4,900 per sq.ft. Postal Colony 4th Street's current value is above this median.

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

Stamp duty and registration fee for property in Postal Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 70,00,000, the stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, totaling Rs 6,30,000. 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 Postal Colony 4th Street?

The Postal Colony 4th Street falls under the jurisdiction of 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Postal Colony 4th Street?

The current guideline value of Postal Colony 4th Street is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,580 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, with several revisions in between. Notable changes include an increase of 49% from 2017 to 2023 and an 8% increase from 2023 to 2024.

What is the land classification for Postal Colony 4th Street?

The land classification for Postal Colony 4th Street is Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the Ashok Nagar Sub Registrar Office?

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

How is stamp duty calculated for properties in Postal Colony 4th 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 70,00,000, the stamp duty would be Rs 4,90,000 at a rate of 7%.