Guideline Value for well Street

well Street guideline value

The current guideline value of well Street in Podavoor village is Rs 181 per sq.ft, effective from the 2024 revision. This street falls under the Residential Class II Type - I land classification and is registered with the Sunguvarchattram SRO.

How the guideline value of well Street has changed

The guideline value for well Street has seen several revisions over the years. The register shows no figures for the years 2002, 2003, and 2007. In the 2012 revision, the guideline value was Rs 180 per sq.ft, which saw a decrease to Rs 121 per sq.ft in the 2017 revision, marking a 33% drop. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 181 per sq.ft, where it remained unchanged in the 2024 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by just 1%. The stable figure of Rs 181 per sq.ft in both the 2023 and 2024 revisions indicates that there have been no changes in the guideline value for well Street during this period.

Guideline values in Podavoor

In Podavoor, there are 20 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, making the Rs 181 per sq.ft for well Street below the median.

• Thulukanathamman Street: Rs 181 per sq.ft (2024)
• Thiyagaraj Nagar: Rs 500 per sq.ft (2024)
• SriDevi Teak Garden: Rs 200 per sq.ft (2024)
• SriDevi Green Farms: Rs 200 per sq.ft (2024)
• Ponjothi Garden: Rs 500 per sq.ft (2024)
• Padavattamman Kovil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in well Street

For a 1,000 sq.ft plot at the current guideline value of Rs 181 per sq.ft, the total guideline value amounts to Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, and the registration fee at 2% would be Rs 3,620, making the total cost for these fees Rs 16,290. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers well Street?

well Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Podavoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of well Street?

The current guideline value of well Street is Rs 181 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value for well Street was Rs 180 per sq.ft in 2012, decreased to Rs 121 per sq.ft in 2017, and then increased to Rs 181 per sq.ft in both 2023 and 2024, showing a 1% overall increase from 2012 to 2024.

What are the other streets in Podavoor with their guideline values?

Other streets in Podavoor have varying guideline values, with rates ranging from Rs 181 to Rs 600 per sq.ft. For instance, Thulukanathamman Street and well Street both have a guideline value of Rs 181 per sq.ft.

What fees are associated with buying property in well Street?

When buying property in well Street, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 1,81,000, the total fees would amount to Rs 16,290.

Where can I find the Sub Registrar Office for well Street?

The Sub Registrar Office covering well Street is the Sunguvarchattram SRO, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.