Guideline Value for WEST NAMASIVAYAPURAM 2ND STREET

West Namasivayapuram 2nd Street guideline value

The current guideline value of West Namasivayapuram 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, with a land classification of Residential Class IV Type - III.

How the guideline value of West Namasivayapuram 2nd Street has changed

The guideline value for West Namasivayapuram 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 563 per sq.ft. It increased to Rs 619 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped significantly to Rs 900 per sq.ft, reflecting a 45% increase. The 2012 revision saw a notable rise to Rs 3,500 per sq.ft, which was a substantial 289% increase from the previous figure. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33% compared to 2012. The most recent revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, which is a 62% increase from the 2017 figure. The register has no figure for the year 2023 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft as per the 2024 revision. The median value for these streets is Rs 5,800 per sq.ft, indicating that the guideline value for West Namasivayapuram 2nd Street is below this median.

• West Namasivayapuram 1st Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 3rd Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 4th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 5th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 6th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 7th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in West Namasivayapuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers West Namasivayapuram 2nd Street?

The Sub Registrar Office that covers West Namasivayapuram 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Puliyur. It is used to determine the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is crucial to be aware of the current guideline value as it affects the overall cost involved in the registration process. Buyers and sellers should ensure they have the latest figures to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of West Namasivayapuram 2nd Street?

The current guideline value of West Namasivayapuram 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 563 per sq.ft to Rs 3,800 per sq.ft in 2024, marking an overall increase of 575%.

What is the land classification for West Namasivayapuram 2nd Street?

The land classification for West Namasivayapuram 2nd Street is Residential Class IV Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 3,800 per sq.ft, the total stamp duty and registration fees can amount to Rs 3,42,000 for a 1,000 sq.ft plot.

Which office handles registrations for West Namasivayapuram 2nd Street?

The Kodambakkam Sub Registrar Office handles registrations for West Namasivayapuram 2nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.