Guideline Value for 3rd street

3rd Street guideline value

The current guideline value of 3rd Street in Pungathur village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - III.

How the guideline value of 3rd Street has changed

The guideline value for 3rd Street has undergone several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it saw a decrease to Rs 335 per sq.ft in 2017. The value then rose to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft from the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a notable increase of 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Pungathur

Pungathur village has 32 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 1,485 per sq.ft, placing 3rd Street's 2024 figure below that median.

• 3rd cross Street: Rs 550 per sq.ft (2024)
• 2nd Cross Street: Rs 550 per sq.ft (2024)
• 1st Crossroad: Rs 1,099 per sq.ft (2024)
• Vasumathi Nagar: Rs 2,000 per sq.ft (2024)
• Vadavandai Vada Veedi: Rs 550 per sq.ft (2024)
• Thendadaivada veedhi: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. It is important to note that the 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 3rd Street?

The Sub Registrar Office that covers 3rd Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pungathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

When a property is sold, the guideline value helps establish the minimum value for taxation purposes. This means that buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of 3rd Street?

The current guideline value of 3rd Street in Pungathur village is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the registration office for 3rd Street?

The registration office for 3rd Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What are the stamp duty and registration fees for properties?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500 and a registration fee of Rs 11,000.

What other streets in Pungathur have similar guideline values?

Other streets in Pungathur with similar guideline values include 3rd cross Street, 2nd Cross Street, and Vadavandai Vada Veedi, all at Rs 550 per sq.ft as of 2024.