Guideline Value for WEST NAMASIVAYAPURAM 3RD STREET

West Namasivayapuram 3rd Street guideline value

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

How the guideline value of West Namasivayapuram 3rd Street has changed

The guideline value for West Namasivayapuram 3rd Street has undergone several revisions over the years. Starting from Rs 563 per sq.ft in 2002, it increased to Rs 619 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 900 per sq.ft in 2007, which was a 45% increase. Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 289% increase. However, there was a decline to Rs 2,345 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, which is a 62% increase from the 2017 figure. It is important to note that the register has no figure for this street in 2023.

Guideline values in Puliyur

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

• West Namasivayapuram 2nd Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 4th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 1st 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 3rd 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 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Namasivayapuram 3rd Street?

The Sub Registrar Office that covers West Namasivayapuram 3rd 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 a crucial factor in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the property is valued fairly for taxation purposes. It is essential for both buyers and sellers to be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of West Namasivayapuram 3rd Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 563 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 575% over the years.

What is the land classification for West Namasivayapuram 3rd Street?

West Namasivayapuram 3rd Street is classified as Residential Class IV Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for West Namasivayapuram 3rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000, and the registration fee would be Rs 76,000.