Guideline Value for Postal Colony Cross Street

Postal Colony Cross Street guideline value

The current guideline value of Postal Colony Cross 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 Cross Street has changed

The guideline value for Postal Colony Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,860 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a rise of 249%. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 4,355 per sq.ft. The value then rose sharply by 49% to Rs 6,500 per sq.ft in 2023.

With the latest revision in 2024, the guideline value has increased to Rs 7,000 per sq.ft, reflecting an 8% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 276%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the 2024 figure for Postal Colony Cross Street above the median.

• Postal Colony 4th Street: Rs 7,000 per sq.ft (2024)
• Postal Colony 3rd Street (Telepost colony): 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 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value would be Rs 70,00,000. The stamp duty at 7% would amount to Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total cost together to Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Postal Colony Cross Street?

The Sub Registrar Office that covers Postal Colony Cross Street 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 plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers should be aware that the guideline value is often considered the minimum value for property transactions.

When registering a property, the authorities will assess the guideline value to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Postal Colony Cross Street?

The current guideline value of Postal Colony Cross 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 1,860 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Postal Colony Cross Street?

The land classification for Postal Colony Cross Street is Residential Special Type - III.

Where is the Sub Registrar Office for Postal Colony Cross Street located?

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

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 70,00,000 would incur a stamp duty of Rs 4,90,000 at 7%.