Guideline Value for PURATCHI THALAIVI NAGAR 2ND LEFT CROSS STREET

Puratchi Thalaivi Nagar 2nd Left Cross Street guideline value

The current guideline value for Puratchi Thalaivi Nagar 2nd 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 is Residential Class V Type - III.

How the guideline value of Puratchi Thalaivi Nagar 2nd Left Cross Street has changed

The guideline value for Puratchi Thalaivi Nagar 2nd Left Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was later reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 1,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The changes between the 2017 and 2023 revisions reflect a significant increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. 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, with a median value of Rs 2,530 per sq.ft. The guideline value for Puratchi Thalaivi Nagar 2nd Left Cross Street is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty is charged at 7%, totaling Rs 77,000, and the registration fee is 2%, amounting to Rs 22,000. Together, the total fees would be 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Puratchi Thalaivi Nagar 2nd Left Cross Street?

The Sub Registrar Office that covers Puratchi Thalaivi Nagar 2nd 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 when buying or selling property in Manapakkam, as it determines the minimum price at which the property can be registered. This value is set by the government and is updated periodically based on various factors, including location and land classification.

When a buyer purchases property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with the regulations set by the state government.

Frequently asked questions

What is the current guideline value of Puratchi Thalaivi Nagar 2nd Left Cross Street?

The current guideline value of Puratchi Thalaivi Nagar 2nd 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 back 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 2nd Left Cross Street is Residential Class V Type - III.

Where is the Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the total fees would be Rs 99,000, including stamp duty and registration fees.