Guideline Value for WEST STREET

West Street guideline value

The current guideline value of West Street in Podaturpet village is Rs 202 per sq.ft, effective from 1 July 2024. This street falls under the Pallipattu SRO and is classified as Residential Class III Type - I.

How the guideline value of West Street has changed

The guideline value for West Street has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 100 per sq.ft. This value increased significantly by 100% to Rs 200 per sq.ft in the 2023 revision. The latest revision in 2024 saw a further increase of 1%, bringing the current guideline value to Rs 202 per sq.ft.

There are no figures available for West Street in the revisions from 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 102%.

Guideline values in Podaturpet

In Podaturpet, there are 47 streets under the Pallipattu SRO that have a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, making West Street's value below this median.

• Varadhappa Nagar: Rs 200 per sq.ft (2024)
• Vanivilasa Puram Colony: Rs 126 per sq.ft (2024)
• Vanivilasa Puram: Rs 100 per sq.ft (2024)
• Vanaja Vaniga Valagam: Rs 300 per sq.ft (2024)
• Thoppu Street: Rs 300 per sq.ft (2024)
• Thanga Salai Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 202 per sq.ft, the total guideline value amounts to Rs 2,02,000. The stamp duty at 7% would be Rs 14,140, and the registration fee at 2% would be Rs 4,040, bringing the total to Rs 18,180. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Street?

The Sub Registrar Office that covers West Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Podaturpet. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value serves as a benchmark for the value of the property, ensuring that the taxes are calculated fairly based on the official rates.

When selling a property, the guideline value can influence the selling price. However, the actual sale price must be at least equal to or higher than the guideline value to avoid discrepancies during registration. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of West Street?

The current guideline value of West Street in Podaturpet village is Rs 202 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 100 per sq.ft to Rs 202 per sq.ft in 2024, marking an overall increase of 102%.

What is the median guideline value for streets in Podaturpet?

The median guideline value for the 47 streets in Podaturpet under the Pallipattu SRO is Rs 250 per sq.ft, which is higher than the current value of West Street.

What are the stamp duty and registration fees for properties in West Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 2,02,000. The stamp duty at 7% is Rs 14,140, and the registration fee at 2% is Rs 4,040, totaling Rs 18,180.

Where is the Sub Registrar Office for West Street located?

The Sub Registrar Office covering West Street is located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.