Guideline Value for PUNNIYAKOTTI STREET

Punniyakotti Street guideline value

The current guideline value of Punniyakotti Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Punniyakotti Street has changed

The guideline value for Punniyakotti Street has undergone several revisions over the years. In 2002, the guideline value was Rs 612 per sq.ft, which increased to Rs 704 per sq.ft in 2003, marking a change of +15%. The value continued to rise, reaching Rs 1,100 per sq.ft in 2007, an increase of +56%. Following this, the 2012 revision set the value at Rs 2,500 per sq.ft, reflecting a significant increase of +127% from the previous revision. However, the value then decreased by -33% to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,750 per sq.ft in 2024, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +349%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Punniyakotti Street's 2024 figure below this median.

• Perumal Koil West Mada Veethi Extn: Rs 4,400 per sq.ft (2024)
• Perumal Koil West Mada Veethi: Rs 4,950 per sq.ft (2024)
• Perumal Koil Mada Veethi: Rs 4,950 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Rangabashyam Chetty Street: Rs 2,750 per sq.ft (2024)
• Saibaba Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Punniyakotti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Punniyakotti Street?

The Sub Registrar Office that covers Punniyakotti Street 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When registering a property, the guideline value will be used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications of their transaction. It is essential to consider this value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Punniyakotti Street?

The current guideline value of Punniyakotti Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +349% over the years.

What is the median guideline value for streets in Saidapet?

The median guideline value for streets in Saidapet under the Chennai South Joint I SRO is Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for property in Punniyakotti Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty at 7% is Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500.

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

The Sub Registrar Office for Punniyakotti Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.