Guideline Value for Punnya Kodi Street

Punnya Kodi Street guideline value

The current guideline value of Punnya Kodi Street 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 Punnya Kodi Street has changed

The guideline value for Punnya Kodi Street has seen several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, the value decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 3,000 per sq.ft, followed by another increase to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for Punnya Kodi Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Punnya Kodi Street's current value of Rs 3,300 per sq.ft is below this median.

• Pushpavathi Ammal Street: Rs 3,300 per sq.ft (2024)
• Pulithevan Street: Rs 3,300 per sq.ft (2024)
• Pulithevan Cross Street: Rs 3,300 per sq.ft (2024)
• Pughazhandhi Street: Rs 3,300 per sq.ft (2024)
• P.T. Rajan Salai: Rs 9,900 per sq.ft (2024)
• Radhakrishnan Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Punnya Kodi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Punnya Kodi Street?

The Sub Registrar Office that covers Punnya Kodi 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 further assistance.

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

The guideline value is a crucial 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 need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property’s assessed value.

Frequently asked questions

What is the current guideline value of Punnya Kodi Street?

The current guideline value of Punnya Kodi Street 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 are the stamp duty and registration fees for properties in Punnya Kodi Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Punnya Kodi Street?

The Ashok Nagar Sub Registrar Office is responsible for Punnya Kodi Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Punnya Kodi Street's current value below this median at Rs 3,300 per sq.ft.