Guideline Value for PURUSHOTHAMAN AVENUE PHASE III

Purushothaman Avenue Phase III guideline value

The current guideline value of Purushothaman Avenue Phase III is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Pozhichalur village under the Pammal SRO, classified as Commercial Special Type - I.

How the guideline value of Purushothaman Avenue Phase III has changed

The guideline value for Purushothaman Avenue Phase III has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, marking a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent upward trend in the guideline values highlights the changes in property valuation over these years.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO, with guideline values ranging from Rs 1,100 to Rs 4,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,320 per sq.ft, placing Purushothaman Avenue Phase III above this median.

• Purushothaman Avenue: Rs 1,320 per sq.ft (2024)
• Puthar Street: Rs 1,100 per sq.ft (2024)
• Radhakrishnan Salai: Rs 2,200 per sq.ft (2024)
• Ragaendira Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Ragavendhara Nagar: Rs 1,650 per sq.ft (2024)
• Ragavendira Nagar 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Purushothaman Avenue Phase III

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 for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Purushothaman Avenue Phase III?

The Sub Registrar Office covering Purushothaman Avenue Phase III is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives a fair amount based on the established property values in the area.

Frequently asked questions

What is the current guideline value of Purushothaman Avenue Phase III?

The current guideline value of Purushothaman Avenue Phase III 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for Purushothaman Avenue Phase III?

The Pammal Sub Registrar Office handles property registrations for Purushothaman Avenue Phase III, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including land classification and comparisons with other properties in the area. It serves as a standard for calculating stamp duty and registration fees during property transactions.