Guideline Value for PURATCHI THALAIVI NAGAR 1ST RIGHT CROSS STREET

Puratchi Thalaivi Nagar 1st Right Cross Street guideline value

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

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

Since the 2012 revision, the guideline value has changed from Rs 1,000 per sq.ft to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 10%. The 2017 revision saw a significant increase from Rs 670 per sq.ft to Rs 1,000 per sq.ft in 2023, which is a rise of 49%. The 2012 revision was a decrease from Rs 1,000 per sq.ft to Rs 670 per sq.ft in 2017, showing a decline of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

In summary, the guideline value per sq.ft for Puratchi Thalaivi Nagar 1st Right Cross Street has seen fluctuations over the years, with the most recent revision in 2024 marking an increase of 10% from the previous year. The historical figures demonstrate a varied trajectory, with notable increases and decreases between revisions.

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, with a median value of Rs 2,530 per sq.ft. The guideline value of Rs 1,100 per sq.ft for Puratchi Thalaivi Nagar 1st Right Cross Street is below this median.

• Puratchi Thalaivi Nagar 1st Left 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 Right Cross Street

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

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

The Sub Registrar Office that covers Puratchi Thalaivi Nagar 1st Right 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 minimum value at which property transactions are registered, ensuring that the property is not undervalued during the sale.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Puratchi Thalaivi Nagar 1st Right Cross Street?

The current guideline value of Puratchi Thalaivi Nagar 1st Right 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 2023 to Rs 1,100 per sq.ft in 2024, an increase of 10%. It was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012, showing a significant rise and fall in values over the years.

What is the land classification of Puratchi Thalaivi Nagar 1st Right Cross Street?

The land classification for Puratchi Thalaivi Nagar 1st Right Cross Street is Residential Class V Type - III, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Puratchi Thalaivi Nagar 1st Right 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 guideline value used in property transactions?

The guideline value is used as the basis for calculating stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, preventing undervaluation and ensuring compliance with government regulations.