Guideline Value for PUTHU NAGAR 5TH STREET

Puthu Nagar 5th Street guideline value

The current guideline value of Puthu Nagar 5th 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Puthu Nagar 5th Street has changed

The guideline value for Puthu Nagar 5th 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. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Puthu Nagar 5th Street.

• Puthu Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Puthu Nagar 1st 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 5th 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, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Puthu Nagar 5th Street?

The Sub Registrar Office that covers Puthu Nagar 5th 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, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, they must consider the guideline value as it influences the overall cost involved in the registration process. The higher of the guideline value and the sale price will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Puthu Nagar 5th Street?

The current guideline value of Puthu Nagar 5th 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 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 5th Street?

The land classification for Puthu Nagar 5th Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties here?

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, totaling Rs 1,98,000.

Which office handles registrations for Puthu Nagar 5th Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Puthu Nagar 5th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.