Guideline Value for WEST NAMASIVAYAPURAM 7TH STREET

West Namasivayapuram 7th Street guideline value

The current guideline value of West Namasivayapuram 7th 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 7th Street has changed

The guideline value for West Namasivayapuram 7th Street has seen several revisions over the years. In 2002, the value was Rs 563 per sq.ft, which increased to Rs 619 per sq.ft in 2003, marking a 10% rise. The value further increased to Rs 900 per sq.ft in 2007, reflecting a 45% growth. By 2012, the value reached Rs 3,500 per sq.ft, showing a significant increase of 289%. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, representing a 62% increase from the 2017 figure. Notably, there is no guideline value recorded for this street in the 2023 revision.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, placing West Namasivayapuram 7th Street's 2024 value below that median.

• West Namasivayapuram 6th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 5th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 4th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 3rd Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 2nd Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 1st Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in West Namasivayapuram 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while 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 duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Namasivayapuram 7th Street?

The Sub Registrar Office that covers West Namasivayapuram 7th 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 determines the minimum price at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value to avoid any legal issues during registration. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of West Namasivayapuram 7th Street?

The current guideline value of West Namasivayapuram 7th 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 are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,42,000.

Which Sub Registrar Office covers West Namasivayapuram 7th Street?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covers West Namasivayapuram 7th Street.

What is the median guideline value in Puliyur?

The median guideline value in Puliyur is Rs 5,800 per sq.ft, which is higher than the current guideline value of West Namasivayapuram 7th Street.