Guideline Value for PURUSHOTHAMAN NAGAR EXTN

Purushothaman Nagar Extn guideline value

The current guideline value of Purushothaman Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Purushothaman Nagar Extn has changed

Over the years, the guideline value of Purushothaman Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,320 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a 10% increase in the guideline value.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making Purushothaman Nagar Extn's 2024 figure of Rs 1,320 per sq.ft below the median.

• Purushothaman Nagar: Rs 1,320 per sq.ft (2024)
• Radhakrishna Nagar Extension - 4: Rs 1,650 per sq.ft (2024)
• Priyanga Nagar: Rs 1,650 per sq.ft (2024)
• Prithiv Avenue: Rs 1,980 per sq.ft (2024)
• Premier Garden Phase -II: Rs 2,420 per sq.ft (2024)
• Premier Garden Phase -I: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Purushothaman Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Please note that 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 information.

Which Sub Registrar Office covers Purushothaman Nagar Extn?

The Sub Registrar Office that covers Purushothaman Nagar Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor when registering property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Purushothaman Nagar Extn?

The current guideline value of Purushothaman Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Purushothaman Nagar Extn?

The land classification for Purushothaman Nagar Extn is Residential Class I Type - I.

What are the stamp duty and registration fees for property in Purushothaman Nagar Extn?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,20,000, the total fees would be Rs 1,18,800.

Which Sub Registrar Office should I contact for Purushothaman Nagar Extn?

The Padappai Sub Registrar Office covers Purushothaman Nagar Extn, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.