Guideline Value for PUNITHA BOOMI

Punitha Boomi guideline value

The current guideline value of Punitha Boomi, located in Pammathukulam village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Punitha Boomi has changed

Over the years, the guideline value of Punitha Boomi has seen several revisions. The earliest registered figure is from 2017, which was Rs 335 per sq.ft. This value increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 shows a further increase to Rs 550 per sq.ft, reflecting a 10% change from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The consistent rise in the guideline value indicates a significant change in the valuation of properties in this area over the years.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which aligns with the current value for Punitha Boomi. Below are the guideline values for other streets in Pammathukulam:

• Raghavendra Nagar: Rs 550 per sq.ft (2024)
• Rahumath Avenue: Rs 550 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 330 per sq.ft (2024)
• Pari Nagar: Rs 660 per sq.ft (2024)
• R.G. Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Punitha Boomi

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, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Punitha Boomi?

The Sub Registrar Office that covers Punitha Boomi is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Pammathukulam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is based on a standardized valuation of the property.

Frequently asked questions

What is the current guideline value of Punitha Boomi?

The current guideline value of Punitha Boomi is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value of Punitha Boomi has increased by 64%, from Rs 335 per sq.ft to Rs 550 per sq.ft.

What is the stamp duty rate for property in Punitha Boomi?

The stamp duty rate for property transactions in Punitha Boomi is 7% of the guideline value or the sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the guideline values of other streets in Pammathukulam?

Other streets in Pammathukulam have varying guideline values. For instance, Raghavendra Nagar, Rahumath Avenue, and Rajiv Gandhi Nagar all have a guideline value of Rs 550 per sq.ft, while Perumal Koil Street is valued at Rs 330 per sq.ft, and Pari Nagar is at Rs 660 per sq.ft.