Guideline Value for PUTHU NAGAR 2ND STREET

Puthu Nagar 2nd Street guideline value

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

How the guideline value of Puthu Nagar 2nd Street has changed

The guideline value for Puthu Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the following years saw a significant increase, with the value rising to Rs 2,000 per sq.ft in 2023 and then to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year and a total increase of 10% from the 2012 value.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value increased by 10%, showcasing the fluctuations in property values over the years.

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 is Rs 2,200 per sq.ft, which is equal to the current guideline value of Puthu Nagar 2nd Street.

• Puthu Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Puthu Nagar 2nd Street?

The Sub Registrar Office that covers Puthu Nagar 2nd 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. For additional details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact their financial planning.

Frequently asked questions

What is the current guideline value of Puthu Nagar 2nd Street?

The current guideline value of Puthu Nagar 2nd 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 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Puthu Nagar 2nd Street?

Puthu Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Which office handles the registration for Puthu Nagar 2nd Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Puthu Nagar 2nd Street, 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 higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000.