Guideline Value for PUNIYAKOTI NAGAR

Puniyakoti Nagar guideline value

The current guideline value of Puniyakoti Nagar, located in Thundalam village under the Chennai South Joint I SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Puniyakoti Nagar has changed

The guideline value for Puniyakoti Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft. This figure was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value saw a significant increase in the following revisions, with the 2023 revision raising it to Rs 1,800 per sq.ft, and the latest 2024 revision increasing it further to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a net increase of 10%. It is important to note that there are no figures available for this street in the revisions of 2002, 2003, and 2007.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, positioning Puniyakoti Nagar's 2024 guideline value above that median.

• Punniya Kotti Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Parasnath Nagar / Avenue: Rs 2,750 per sq.ft (2024)
• Navanitha Krishnan Street: Rs 1,650 per sq.ft (2024)
• Senthamil Nagar: Rs 1,650 per sq.ft (2024)
• Sivam Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Puniyakoti Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the 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 Puniyakoti Nagar?

The Sub Registrar Office that covers Puniyakoti Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thundalam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay during the transfer of property ownership.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both taxation purposes and maintaining accurate property records. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the associated fees.

Frequently asked questions

What is the current guideline value of Puniyakoti Nagar?

The current guideline value of Puniyakoti Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Puniyakoti Nagar?

Puniyakoti Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Puniyakoti Nagar?

The Sub Registrar Office covering Puniyakoti Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated in Puniyakoti Nagar?

Stamp duty in Puniyakoti Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,38,600.