Guideline Value for PUTHU NAGAR 1ST STREET

Puthu Nagar 1st Street guideline value

The current guideline value of Puthu Nagar 1st Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Puthu Nagar 1st Street has changed

Over the years, the guideline value for Puthu Nagar 1st Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, which was a significant increase of 49% from the previous 2012 figure of Rs 2,000 per sq.ft. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, when assessing the overall change from 2012 to 2024, there has been a 10% increase, reflecting the current guideline value of Rs 2,200 per sq.ft.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Puthu Nagar 1st Street.

• Puthu Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar Thiruvenkadam Street: Rs 2,200 per sq.ft (2024)
• Puuthu Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Quaid-E-Millath Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Puthu Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 details on the fees applicable to property transactions.

Which Sub Registrar Office covers Puthu Nagar 1st Street?

Puthu Nagar 1st Street is covered by 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Jelandianpettai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Understanding these values helps in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of Puthu Nagar 1st Street?

The current guideline value of Puthu Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification of Puthu Nagar 1st Street?

Puthu Nagar 1st Street is classified as Residential Class II Type - I.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Puthu Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.