Guideline Value for PURATCHI THALAIVI NAGAR 1ST LEFT CROSS STREET

Puratchi Thalaivi Nagar 1st Left Cross Street guideline value

The current guideline value of Puratchi Thalaivi Nagar 1st Left Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Puratchi Thalaivi Nagar 1st Left Cross Street has changed

The guideline value for Puratchi Thalaivi Nagar 1st Left Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and finally, it rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, making the current value of Puratchi Thalaivi Nagar 1st Left Cross Street below that median.

• Puratchi Thalaivi Nagar 1st Right Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 2nd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 2nd Right Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 3rd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar 3rd Right Cross Street: Rs 1,100 per sq.ft (2024)
• Puratchi Thalaivi Nagar Main Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Puratchi Thalaivi Nagar 1st Left Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Puratchi Thalaivi Nagar 1st Left Cross Street?

The Sub Registrar Office that covers Puratchi Thalaivi Nagar 1st Left Cross 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 information.

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

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

When a property is registered, 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 government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Puratchi Thalaivi Nagar 1st Left Cross Street?

The current guideline value for Puratchi Thalaivi Nagar 1st Left Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Puratchi Thalaivi Nagar 1st Left Cross Street is Residential Class V Type - III.

Where can I find the registration office for this area?

The registration office for Puratchi Thalaivi Nagar 1st Left Cross 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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.